American Home Shield 2015 Annual Report Download - page 73

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55
Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our
control. We caution you that forward-looking statements are not guarantees of future performance or outcomes and that actual
performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the
development of the market segments in which we operate, may differ materially from those made in or suggested by the forward-
looking statements contained in this report. In addition, even if our results of operations, financial condition and cash flows, and the
development of the market segments in which we operate, are consistent with the forward-looking statements contained in this report,
those results or developments may not be indicative of results or developments in subsequent periods. A number of important factors,
including, without limitation, the risks and uncertainties discussed in “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” above, could cause actual results and outcomes to differ from those reflected in the
forward-looking statements. Additional factors that could cause actual results and outcomes to differ from those reflected in forward-
looking statements include, without limitation:
lawsuits, enforcement actions and other claims by third parties or governmental authorities;
the 401(k) Plan correction contribution and other employee benefit plan compliance issues;
compliance with, or violation of, environmental, health and safety laws and regulations;
weakening general economic conditions, especially as they may affect home sales, unemployment and consumer confidence
or spending levels;
our ability to successfully implement our business strategies;
adverse credit and financial markets impeding access, increasing financing costs or causing our customers to incur liquidity
issues leading to some of our services not being purchased or cancelled;
cyber security breaches, disruptions or failures in our information technology systems and our failure to protect the security
of personal information about our customers;
our ability to attract and retain key personnel, including our ability to attract, retain and maintain positive relations with
trained workers and third-party contractors;
increase in prices for fuel and raw materials, and in minimum wage levels;
changes in the source and intensity of competition in our market segments;
adverse weather conditions;
our franchisees, subcontractors, third-party distributors and vendors taking actions that harm our business;
changes in our services or products;
our ability to protect our intellectual property and other material proprietary rights;
negative reputational and financial impacts resulting from future acquisitions or strategic transactions;
laws and governmental regulations increasing our legal and regulatory expenses;
increases in interest rates increasing the cost of servicing our substantial indebtedness;
increased borrowing costs due to lowering or withdrawal of the ratings, outlook or watch assigned to our debt securities;
restrictions contained in our debt agreements;
our ability to refinance all or a portion of our indebtedness or obtain additional financing; and
other factors described in this report and from time to time in documents that we file with the SEC.
You should read this report completely and with the understanding that actual future results may be materially different from
expectations. All forward-looking statements made in this report are qualified by these cautionary statements. These forward-looking
statements are made only as of the date of this report, and we do not undertake any obligation, other than as may be required by law,
to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events,
unanticipated or otherwise, and changes in future operating results over time or otherwise.
Comparisons of results for current and any prior periods are not intended to express any future trends, or indications of future
performance, unless expressed as such, and should only be viewed as historical data.
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The economy and its impact on discretionary consumer spending, labor wages, fuel prices and other material costs, home
resales, unemployment rates, insurance costs and medical costs could have a material adverse impact on future results of operations.
2015 Annual Report 71