What the changes say
- Foreign currency and hedging exposures expanded with new bank counterparty risks.
What changed since the prior 10-K
New
- NewBusiness and Strategic Risks
our receivables. Our results of operations, as well as our liquidity, may be adversely affected and possible delays may occur in reporting financial results
Currency exchange rate fluctuations and third-party hedging counterparty failures could negatively impact our revenue, expenses, and financial condition.
- NewBusiness and Strategic Risks
Recent and dynamic government rule making and policy changes could increase our costs, affect our markets and customers and impact our results of operations
New government regulations, tariffs, sanctions, and export controls could increase compliance costs, disrupt supply chains, and restrict global shipments.
- NewRegulatory, Legal and Compliance Risks
The expectations and requirements of regulators and other key stakeholders, including on corporate governance and sustainability-related matters, continue to evolve and diverge, and our ability to meet these expectations and requirements could impact our risk exposure and financial conditions
Diverging stakeholder expectations regarding corporate governance, climate change, and diversity could negatively impact our reputation and financial results.
Dropped
- DroppedRegulatory, Legal and Compliance Risks
We are subject to evolving corporate governance and public disclosure expectations and regulations that impact compliance costs and risks of noncompliance
- DroppedFinancial and Tax Risks
borrowing for general corporate purposes, future acquisitions, expansion of our business or repurchases of our outstanding shares of common stock
Reworded
- 70% rewrittenFinancial and Tax Risks
We have outstanding debt and may incur other debt in the future, which could adversely affect our financial condition, liquidity and results of operations
Updated outstanding indebtedness figure from $3.4 billion as of October 31, 2024 to October 31, 2025.
- 54% rewrittenBusiness and Strategic Risks
Economic, political, foreign currency and other risks associated with international sales and operations could adversely affect our results of operations
Clarified that foreign currency movements impact profitability through cost reductions or vice versa.
- 36% rewrittenRegulatory, Legal and Compliance Risks
We are subject to extensive regulation by the Food and Drug Administration and certain similar foreign regulatory agencies, and failure to comply with such regulations could harm our reputation, business, financial condition and results of operations
Added post-market surveillance to the scope of FDA and foreign regulatory agency oversight.
Was: We are subject to extensive regulation by the FDA and certain similar foreign regulatory agencies, and failure to comply with such regulations could harm our reputation, business, financial condition and results of operations
- 31% rewrittenRegulatory, Legal and Compliance Risks
Some of our products are subject to particularly complex regulations such as regulations of toxic substances, and failure to comply with such regulations could harm our business
Removed descriptive background details regarding EPA Toxic Substances Control Act chemical inventories and reviews.
- 28% rewrittenFinancial and Tax Risks
Changes in tax laws, unfavorable resolution of tax examinations, or exposure to additional tax liabilities could have a material adverse effect on our results of operations, financial condition and liquidity
Added risks regarding tax return examinations by global tax authorities requiring judgment and estimation.
- 26% rewrittenOperational Risks
Our operating results may suffer if our manufacturing capacity does not match the demand for our products
Expanded potential negative impacts of excess manufacturing capacity to include gross margins.
- 22% rewrittenFinancial and Tax Risks
Adverse conditions in the global banking industry and credit markets may adversely impact the value of our cash investments or impair our liquidity
Updated cash and cash equivalents figure from $1,329 million as of October 31, 2024 to $1,789 million as of October 31, 2025.
All 33 risk factors
Headings as the filing states them, in filing order.
Business and Strategic Risks
- 01General economic conditions may adversely affect our operating results and financial condition
- 02Our operating results and financial condition could be harmed if the markets into which we sell our products decline or do not grow as anticipated
- 03Economic, political, foreign currency and other risks associated with international sales and operations could adversely affect our results of operations54% rewritten
- 04our receivables. Our results of operations, as well as our liquidity, may be adversely affected and possible delays may occur in reporting financial resultsNew
- 05If we do not introduce successful new products and services in a timely manner to address increased competition through frequent new product and service introductions, rapid technological changes and changing industry standards, our products and services may become obsolete, and our operating results may suffer
- 06Demand for some of our products and services depends on the capital spending policies of our customers, research and development budgets and on government funding policies
- 07Recent and dynamic government rule making and policy changes could increase our costs, affect our markets and customers and impact our results of operationsNew
- 08Failure to adjust our purchases due to changing market conditions or failure to accurately estimate our customers' demand could adversely affect our income
- 09Our business will suffer if we are not able to retain and hire key personnel
- 10Our strategic initiatives to adjust our cost structure could have long-term adverse effects on our business, and we may not realize the operational or financial benefits from such actions
- 11Our acquisitions, strategic investments and alliances, joint ventures, exiting of businesses and divestitures may result in financial results that are different than expected
- 12The impact of consolidation and acquisitions of competitors is difficult to predict and may harm our business
- 13Public health crises may adversely impact, and pose risks to, certain elements of our business, results of operations and financial condition, the nature and extent of which are highly uncertain and unpredictable
Regulatory, Legal and Compliance Risks
- 14If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results, which could lead to a loss of investor confidence in our financial statements and have an adverse effect on our stock price
- 15We are subject to extensive regulation by the Food and Drug Administration and certain similar foreign regulatory agencies, and failure to comply with such regulations could harm our reputation, business, financial condition and results of operations36% rewritten
- 16Some of our products are subject to particularly complex regulations such as regulations of toxic substances, and failure to comply with such regulations could harm our business31% rewritten
- 17Our business may suffer if we fail to comply with government contracting laws and regulations
- 18Our reputation, ability to do business and financial statements may be harmed by improper conduct by any of our employees, agents or business partners
- 19The expectations and requirements of regulators and other key stakeholders, including on corporate governance and sustainability-related matters, continue to evolve and diverge, and our ability to meet these expectations and requirements could impact our risk exposure and financial conditionsNew
- 20Environmental contamination from past and ongoing operations could subject us to substantial liabilities
- 21We are subject to environmental laws and regulations that expose us to a number of risks and could result in significant liabilities and costs
- 22Third parties may claim that we are infringing their intellectual property, and we could suffer significant litigation or licensing expenses or be prevented from selling products or services
- 23Third parties may infringe our intellectual property, and we may suffer competitive injury or expend significant resources enforcing our rights
Operational Risks
- 24Our operating results may suffer if our manufacturing capacity does not match the demand for our products26% rewritten
- 25If we are unable to successfully manage the consolidation and streamlining of our manufacturing operations, we may not achieve desired efficiencies, and our ability to deliver products to our customers could be disrupted
- 26If we suffer a loss to our factories, facilities or distribution system due to catastrophe, our operations could be seriously harmed
- 27If we experience a significant disruption in, or breach in security of, our information technology systems, or if we fail to implement new systems and software successfully, our business could be adversely affected
Financial and Tax Risks
- 28Our retirement and post retirement pension plans are subject to financial market risks that could adversely affect our future results of operations and cash flows
- 29Changes in tax laws, unfavorable resolution of tax examinations, or exposure to additional tax liabilities could have a material adverse effect on our results of operations, financial condition and liquidity28% rewritten
- 30If tax incentives change or cease to be in effect, our income taxes could increase significantly
- 31We have outstanding debt and may incur other debt in the future, which could adversely affect our financial condition, liquidity and results of operations70% rewritten
- 32We cannot assure that we will continue to pay dividends on our common stock
- 33Adverse conditions in the global banking industry and credit markets may adversely impact the value of our cash investments or impair our liquidity22% rewritten
Other Agilent Technologies 10-Ks
- FY2024 10-K risk factors32 risks
Agilent relies heavily on global life sciences and pharmaceutical markets, international operations, and continuous new product introductions to drive growth.
Filed Dec 20, 2024
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.