Tech Data 2013 Annual Report Download - page 16
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Table of Contents
net assets or liquidity; however, it could be material to the Company’s operating results for any particular period, depending upon the level of
income for such period. In addition to the discussion regarding the CIDE tax above, the Company’s Brazilian subsidiary has been undergoing
several examinations of non-income related taxes. Given the complexity and lack of predictability of the Brazilian tax system, the Company
believes that it is reasonably possible that a loss may have been incurred. However, due to the early stages of the examination, the complex nature
of the Brazilian tax system and the absence of communication from the local tax authorities regarding these examinations, the Company is currently
unable to determine the likelihood of these examinations resulting in assessments nor estimate the amount of loss, if any, that may be reasonably
possible if such assessment were to be made.
In connection with the restatement of our prior financial statements, the SEC has requested information from the Company with respect to these
matters. The Company is cooperating with the SEC’s request for information.
The Company is subject to various other legal proceedings and claims arising in the ordinary course of business. The Company’s management does
not expect that the outcome in any of these other legal proceedings, individually or collectively, will have a material adverse effect on the
Company’s financial condition, results of operations, or cash flows.
Not applicable.
14
ITEM 4. Mine Safety Disclosures
.