Pepsi 2014 Annual Report Download - page 45

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25
Potential liabilities and costs from litigation or legal proceedings could have an adverse impact on our
business, financial condition or results of operations.
We and our subsidiaries are party to a variety of legal claims and proceedings in the ordinary course of
business, including but not limited to litigation related to our advertising, marketing or commercial practices,
product labels, claims and ingredients, and environmental, employment and insurance matters. Since litigation
is inherently uncertain, there is no guarantee that we will be successful in defending ourselves against such
claims or proceedings, or that management’s assessment of the materiality of these matters, including the
reserves taken in connection therewith, will be consistent with the ultimate outcome of such claims or
proceedings. In the event that management’s assessment of materiality of current claims and proceedings
proves inaccurate or litigation that is material arises in the future, there may be a material adverse effect on
our business, financial condition or results of operations. See also “Any damage to our reputation or brand
image could adversely affect our business, financial condition or results of operations.”
Many factors may adversely affect the price of our common stock and our business, financial condition
or results of operations.
Many factors may adversely affect the price of our common stock and our business, financial condition or
results of operations. Such factors, some of which are beyond our control, may include, but are not limited
to: unfavorable economic conditions; changes in financial or tax reporting and changes in accounting
principles or practices that materially affect our reported financial condition and results; investor perceptions
of our performance; actions by shareholders or others seeking to influence our business strategies; speculation
by the media or investment community regarding our business; trading activity in our common stock or
trading activity in derivative instruments with respect to our common stock; and the impact of our share
repurchase programs or dividend rate. In addition, corporate actions, such as those we may or may not take
from time to time as part of our continuous review of our corporate structure, including as a result of business,
legal and tax considerations, may not have the impact we intend and may adversely affect the price of our
common stock and our business, financial condition or results of operations. The above factors, as well as
other risks included in this Item 1A. Risk Factors, could adversely affect the price of our common stock and
our business, financial condition or results of operations.
Item 1B. Unresolved Staff Comments.
We have received no written comments regarding our periodic or current reports from the staff of the SEC
that were issued 180 days or more preceding the end of our 2014 fiscal year and that remain unresolved.
Item 2. Properties.
Our principal executive offices, which we own, are located in Purchase, New York. These offices continue
to undergo renovations to improve technology and energy efficiency, and to make necessary infrastructure
repairs and improvements. We expect these renovations to be completed in 2015. Our executive offices and
our data center in Plano, Texas, which we own, are our most significant corporate properties.