ADT 2010 Annual Report Download - page 99

Download and view the complete annual report

Please find page 99 of the 2010 ADT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 292

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287
  • 288
  • 289
  • 290
  • 291
  • 292

Available Information
Tyco is required to file annual, quarterly and special reports, proxy statements and other
information with the SEC. Investors may read and copy any document that Tyco files, including this
Annual Report on Form 10-K, at the SEC’s Public Reference Room at 100 F Street, N.E., Room 1580,
Washington, DC 20549. Investors may obtain information on the operation of the Public Reference
Room by calling the SEC at 1-800-SEC-0330. In addition, the SEC maintains an Internet site at
http://www.sec.gov that contains reports, proxy and information statements and other information
regarding issuers that file electronically with the SEC, from which investors can electronically access
Tyco’s SEC filings.
Our Internet website is www.tyco.com. We make available free of charge on or through our website
our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K,
reports filed pursuant to Section 16 and any amendments to those reports filed or furnished pursuant
to section 13(a) or 15(d) of the exchange act as soon as reasonably practicable after we electronically
file or furnish such materials to the Securities and Exchange Commission. As a Swiss company, we
prepare Swiss statutory financial statements, including Swiss consolidated financial statements, on an
annual basis. A copy of the Swiss statutory financial statements is distributed along with our annual
report to shareholders, and all of the aforementioned reports will be made available to our
shareholders upon their request. In addition, we have posted the charters for our Audit Committee,
Compensation and Human Resources Committee, and Nominating and Governance Committee, as well
as our Board Governance Principles and Guide to Ethical Conduct, on our website under the heading
‘‘Corporate Citizenship—Governance.’’ The annual report to shareholders, charters and principles are
not incorporated in this report by reference. We will also provide a copy of these documents free of
charge to shareholders upon request.
Item 1A. Risk Factors
You should carefully consider the risks described below before investing in our publicly traded securities.
The risks described below are not the only ones facing us. Our business is also subject to the risks that
affect many other companies, such as technological obsolescence, labor relations, geopolitical events, climate
change and international operations.
Risks Relating to Our Businesses
General economic and cyclical industry conditions may adversely affect our financial condition, results of
operations or cash flows.
Our operating results have been and may in the future be adversely affected by general economic
conditions and the cyclical pattern of certain industries in which we operate. For example, demand for
our services and products is significantly affected by the level of commercial construction, the amount
of discretionary consumer and business spending, and the performance of the housing market, each of
which historically has displayed significant cyclicality. Recent economic weakness has adversely affected
our businesses. For example, weakness in the North American and European non-residential
construction markets have adversely impacted the system installation and service portion of our ADT
Worldwide business, and weak global economic conditions have also adversely impacted our Flow
Control business. Continued weakness in the U.S. or global economies, or in the industries in which we
operate, could have a material negative impact on our financial condition, results of operations or cash
flows.
2010 Financials 11