Amphenol's biggest risks in the FY2024 10-K
- Amphenol faces significant geopolitical exposure from global manufacturing and trade policies impacting China and other regions.
The risks most specific to Amphenol
- RISKS RELATED TO OUR GLOBAL OPERATIONS
workforce outside the United States. The Company’s customers are located throughout the world, and the Company has many manufacturing, administrative and sales facilities outside the United States
Trade policies, export controls, tariffs, and sanctions affecting operations and customers in China and other countries have increased our cost of doing business.
- RISKS RELATED TO OUR GLOBAL OPERATIONS
The Company and certain of its suppliers and customers have experienced, and may in the future experience, difficulties obtaining certain raw materials and components, and the cost of certain of the Company’s raw materials and components may increase
We rely on third-party suppliers for volatile raw materials including aluminum, copper, gold, silver, and plastic resins.
- RISKS RELATED TO ACQUISITIONS
The Company has at times experienced difficulties and unanticipated expenses in connection with purchasing and integrating newly acquired businesses
We have completed numerous acquisitions, including 10 in 2023 and two in 2024, and may face difficulties integrating them.
- RISKS RELATED TO ACQUISITIONS
The Company may in the future incur goodwill and other intangible asset impairment charges
Our total assets of $21.4 billion as of December 31, 2024, include $8.2 billion of goodwill and $1.2 billion of other intangible assets.
- RISKS RELATED TO OUR LIQUIDITY AND CAPITAL RESOURCES
The Company’s credit agreement and senior notes contain certain requirements, which if breached, could have a material adverse effect on the Company
Our third amended and restated credit agreement governs our $3.0 billion unsecured revolving credit facility which backstops our commercial paper programs.
- RISKS RELATED TO OUR LIQUIDITY AND CAPITAL RESOURCES
The Company’s results may be negatively affected by changing interest rates
As of December 31, 2024, less than 1% of our outstanding borrowings were subject to floating interest rates.
- RISKS RELATED TO LEGAL AND REGULATORY MATTERS
Changes in fiscal and tax policies, audits and examinations by taxing authorities could impact the Company’s results
We are subject to tax in all jurisdictions in which we operate, including our two largest markets, the U.S. and China.
All 20 risk factors
Headings as the filing states them, in filing order.
RISKS RELATED TO OUR GLOBAL OPERATIONS
- 01workforce outside the United States. The Company’s customers are located throughout the world, and the Company has many manufacturing, administrative and sales facilities outside the United States
- 02We may be negatively impacted by adverse public health developments, including epidemics and pandemics
- 03The Company and certain of its suppliers and customers have experienced, and may in the future experience, difficulties obtaining certain raw materials and components, and the cost of certain of the Company’s raw materials and components may increase
- 04The Company may be negatively impacted by extreme weather conditions and natural catastrophic events, including those caused or intensified by climate change and global warming
- 05The Company’s results can be positively or negatively affected by changes in foreign currency exchange rates
- 06The Company is dependent on attracting, recruiting, hiring and retaining skilled employees, including our various management teams
RISKS RELATED TO OUR END MARKETS
- 07The Company encounters competition in all areas of our business
- 08The Company is dependent on end market dynamics to sell its products, and some of the Company’s end markets are subject to cyclical and at times rapid periods of reduced demand
RISKS RELATED TO ACQUISITIONS
- 09The Company has at times experienced difficulties and unanticipated expenses in connection with purchasing and integrating newly acquired businesses
- 10The Company may in the future incur goodwill and other intangible asset impairment charges
RISKS RELATED TO OUR LIQUIDITY AND CAPITAL RESOURCES
- 11The Company’s credit agreement and senior notes contain certain requirements, which if breached, could have a material adverse effect on the Company
- 12The Company relies on the global capital markets, and an inability to access those markets on favorable terms could adversely affect the Company’s results
- 13The Company’s results may be negatively affected by changing interest rates
RISKS RELATED TO LEGAL AND REGULATORY MATTERS
- 14Our business and financial results may be adversely affected by government contracting risks
- 15The Company must comply with complex export and import controls as well as economic sanctions and trade embargoes imposed by the United States government and other countries
- 16Changes in fiscal and tax policies, audits and examinations by taxing authorities could impact the Company’s results
- 17We may experience difficulties in enforcing our intellectual property rights, which could result in loss of market share, and we may be subject to claims of infringement of the intellectual property rights of others
- 18The Company is subject to customer claims, litigation and other regulatory or legal proceedings
- 19The Company is subject to environmental laws and regulations that could adversely affect our business
- 20The Company is subject to, and may continue to be subject to, incremental costs, risks and regulations associated with efforts to combat the negative effects of climate change
Other Amphenol 10-Ks
- FY2025 10-K risk factors19 risks1 new2 dropped12 reworded
The CommScope acquisition drove significant debt and net interest expense increases for the company. AI investments are driving robust product demand. China tax authorities challenged certain tax positions.
Filed Feb 11, 2026
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.