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These excerpts taken from the GIS 10-K filed Jul 11, 2008. Our
international operations are subject to political and economic
risks.
In fiscal 2008, 19 percent of our consolidated net sales
was generated outside of the United States. We are accordingly
subject to a number of risks relating to doing business
internationally, any of which could significantly harm our
business. These risks include:
• political and economic instability;
• exchange controls and currency exchange rates;
• foreign tax treaties and policies; and
• restriction on the transfer of funds to and from
foreign countries.
Our financial performance on a U.S. dollar denominated
basis is subject to fluctuations in currency exchange rates.
These fluctuations could cause material variations in our
results of operations. Our principal exposures are to the
Australian dollar, British pound
Table of Contents
sterling, Canadian dollar, Chinese renminbi, euro, Japanese yen,
and Mexican peso. From time to time, we enter into agreements
that are intended to reduce the effects of our exposure to
currency fluctuations, but these agreements may not be effective
in significantly reducing our exposure.
Our international operations are subject to political and economic risks. In fiscal 2008, 19 percent of our consolidated net sales was generated outside of the United States. We are accordingly subject to a number of risks relating to doing business internationally, any of which could significantly harm our business. These risks include: • political and economic instability; • exchange controls and currency exchange rates; • foreign tax treaties and policies; and • restriction on the transfer of funds to and from foreign countries. Our financial performance on a U.S. dollar denominated basis is subject to fluctuations in currency exchange rates. These fluctuations could cause material variations in our results of operations. Our principal exposures are to the Australian dollar, British pound
Table of Contentssterling, Canadian dollar, Chinese renminbi, euro, Japanese yen, and Mexican peso. From time to time, we enter into agreements that are intended to reduce the effects of our exposure to currency fluctuations, but these agreements may not be effective in significantly reducing our exposure. | EXCERPTS ON THIS PAGE:
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