| Industries |
|---|
| Asset Management and Custody Banks |
| Investment Banking and Brokerage |
| Health Care Facilities |
| IT Consulting and Other Services |
| Electronic Equipment and Instruments |
| Automobile Manufacturers |
| Motorcycle Manufacturers |
| Food Distributors |
| Trading Companies and Distributors |
| Consumer Electronics |
| Computer and Electronics Retail |
| IT Consulting and Services |
| Exposures |
|---|
| Provide |
| Express intent |
| Intelligence |
| Military |
| Leadership |
| Judicial |
| Event Codes |
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| Agree |
| Yield to order |
| Solicit support |
| Military blockade |
| Host meeting |
| Warn |
| Accident |
| Sports contest |
| Promise policy support |
| Wiki | Wiki Summary |
|---|---|
| Expectation damages | Expectation damages are damages recoverable from a breach of contract by the non-breaching party. An award of expectation damages protects the injured party's interest in realising the value of the expectancy that was created by the promise of the other party. |
| Taxation in the United States | The United States of America has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains, dividends, imports, estates and gifts, as well as various fees. |
| Special Activities Center | The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015. |
| Operations management | Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements. |
| Operations research | Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences. |
| Emergency operations center | An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands. |
| Surgery | Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery". |
| Operation (mathematics) | In mathematics, an operation is a function which takes zero or more input values (called operands) to a well-defined output value. The number of operands (also known as arguments) is the arity of the operation. |
| Manufacturing | Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. |
| Automotive industry | The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest industries by revenue (from 16 % such as in France up to 40 % to countries like Slovakia). |
| Profit (economics) | An economic profit is the difference between the revenue a commercial entity has received from its outputs and the opportunity costs of its inputs. It equals to total revenue minus total cost, including both explicit and implicit costs. |
| Profitability analysis | In cost accounting, profitability analysis is an analysis of the profitability of an organisation's output. Output of an organisation can be grouped into products, customers, locations, channels and/or transactions. |
| Profitability index | Profitability index (PI), also known as profit investment ratio (PIR) and value investment ratio (VIR), is the ratio of payoff to investment of a proposed project. It is a useful tool for ranking projects because it allows you to quantify the amount of value created per unit of investment. |
| Small Is Profitable | Small Is Profitable: The Hidden Economic Benefits of Making Electrical Resources the Right Size is a 2002 book by energy analyst Amory Lovins and others. The book describes 207 ways in which the size of "electrical resources"—devices that make, save, or store electricity—affects their economic value. |
| Profitable growth | Profitable Growth is the combination of profitability and growth, more precisely the combination of Economic Profitability and Growth of Free cash flows. Profitable growth is aimed at seducing the financial community; it emerged in the early 80s when shareholder value creation became firms’ main objective. |
| Customer profitability | Customer profitability (CP) is the profit the firm makes from serving a customer or customer group over a specified period of time, specifically the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person, household or a company that overtime, yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling and servicing the customer."\nCalculating customer profit is an important step in understanding which customer relationships are better than others. |
| Porter's five forces analysis | Porter's Five Forces Framework is a method of analysing the operating environment of a competition of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability. |
| Net income | In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period.It is computed as the residual of all revenues and gains less all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from gross income, which only deducts the cost of goods sold from revenue. |
| Price | A prince is a male ruler (ranked below a king, grand prince, and grand duke) or a male member of a monarch's or former monarch's family. Prince is also a title of nobility (often highest), often hereditary, in some European states. |
| Pricing | Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product. |
| Original equipment manufacturer | An original equipment manufacturer (OEM) is generally perceived as a company that produces parts and equipment that may be marketed by another manufacturer.\nHowever, the term is also used in several other ways, which causes ambiguity. |
| Competition | Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. |
| List of modern armament manufacturers | The following list of modern armament manufacturers presents major companies producing modern weapons and munitions for military, paramilitary, government agency and civilian use. The companies are listed by their full name followed by the short form, or common acronym, if any, in parentheses. |
| List of loudspeaker manufacturers | This is a list of notable manufacturers of loudspeakers. In regard to notability, this is not intended to be an all-inclusive list; it is a list of manufacturers especially noted for their loudspeakers and which have articles on Wikipedia. |
| Manufacturers Hanover Corporation | Manufacturers Hanover Corporation was the bank holding company formed as parent of Manufacturers Hanover Trust Company, a large New York bank formed by a merger in 1961. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufacturers Hanover Corporation. |
| List of swimwear brands | This is a list of notable swimwear brands and manufacturers. |
| Cross product | In mathematics, the cross product or vector product (occasionally directed area product, to emphasize its geometric significance) is a binary operation on two vectors in a three-dimensional oriented Euclidean vector space (named here \n \n \n \n E\n \n \n {\displaystyle E}\n ), and is denoted by the symbol \n \n \n \n ×\n \n \n {\displaystyle \times }\n . Given two linearly independent vectors a and b, the cross product, a × b (read "a cross b"), is a vector that is perpendicular to both a and b, and thus normal to the plane containing them. |
| Hartford Distributors shooting | The Hartford Distributors shooting was a mass shooting that occurred on August 3, 2010, in Manchester, Connecticut, United States. The location of the crime was a warehouse owned by Hartford Distributors, a beer distribution company. |
| Quality Distributors | Quality Distributors FC are a professional association football (soccer) club in Guam. They play in the Guam Soccer League. |
| General Film Distributors | General Film Distributors (GFD), later known as J. Arthur Rank Film Distributors and Rank Film Distributors Ltd., was a British film distribution company based in London. It was active between 1935 and 1996, and from 1937 it was part of the Rank Organisation. |
| Diamond Comic Distributors | Diamond Comic Distributors, Inc. (often called Diamond Comics, DCD, or casually Diamond) is an American comic book distributor serving retailers in North America and worldwide. |
| Consolidated city-county | In United States local government, a consolidated city-county is formed when one or more cities and their surrounding county (parish in Louisiana, borough in Alaska) merge into one unified jurisdiction. As such it has the governmental powers of both a municipal corporation and an administrative division of a state.A consolidated city-county is different from an independent city, although the latter may result from consolidation of a city and a county and may also have the same powers as a consolidated city-county. |
| Tax haven | A tax haven is a jurisdiction with very low "effective" rates of taxation for foreign investors ("headline" rates may be higher). In some traditional definitions, a tax haven also offers financial secrecy. |
| Income tax | An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. |
| Progressivity in United States income tax | In general, the United States federal income tax is progressive, as rates of tax generally increase as taxable income increases, at least with respect to individuals that earn wage income. As a group, the lowest earning workers, especially those with dependents, pay no income taxes and may actually receive a small subsidy from the federal government (from child credits and the Earned Income Tax Credit)."Progressivity" as it pertains to tax is usually defined as meaning that the higher a person's level of income, the higher a tax rate that person pays. |
| Global minimum corporate tax rate | The global minimum corporate tax rate, abbreviated GMCT or GMCTR, is a minimum rate of tax on corporate income internationally agreed upon and accepted by individual jurisdictions. Each country would be eligible to a share of revenue generated by the tax. |
| Product liability | Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property. |
| Risk Factors |
|---|
| BELDEN CDT INC Item 1A Risk Factors We make forward-looking statements in this Annual Report on Form 10-K, in other materials we file with the SEC or otherwise release to the public, and on our website |
| In addition, our senior management might make forward-looking statements orally to analysts, investors, the media and others |
| Statements concerning our future operations, prospects, strategies, financial condition, future economic performance (including growth and earnings) and demand for our products and services, and other statements of our plans, beliefs, or expectations, including the statements contained in the “Outlook” section and other portions of Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” that are not historical facts, are forward-looking statements |
| In some cases these statements are identifiable through the use of words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “target,” “can,” “could,” “may,” “should,” “will,” “would” and similar expressions |
| You are cautioned not to place undue reliance on these forward-looking statements |
| The forward-looking statements we make are not guarantees of future performance and are subject to various assumptions, risks, and other factors that could cause actual results to differ materially from those suggested by these forward-looking statements |
| These factors include, among others, those set forth below and in the other documents that we file with the SEC There also are other factors that we may not describe, generally because we currently do not perceive them to be material, which could cause actual results to differ materially from our expectations |
| We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law |
| Following is a discussion of some of the more significant risks that could materially impact our financial condition, results of operations and cash flows |
| 11 _________________________________________________________________ [69]Table of Contents Any change in the level of economic activity in North America and Europe, our major geographical markets, may have an impact on the level of demand for our products and our resulting revenue and earnings |
| The demand for many of our products is economically sensitive and will vary with general economic activity, trends in nonresidential construction, investment in manufacturing facilities and automation, demand for information technology equipment, and other economic factors |
| Changes in the price and availability of raw materials we use could be detrimental to our profitability |
| Copper is a significant component of the cost of most of our products |
| Other materials we use, such as PVC and other plastics derived from petrochemical feedstocks, have also risen in price |
| Generally, we have recovered much of the higher cost of raw materials through higher pricing of our finished products |
| The majority of our products are sold through distribution, and we manage the pricing of these products through published price lists which we update from time to time, with new prices taking effect a few weeks after they are announced |
| Some OEM and telecom customer contracts have provisions for passing through raw material cost increases, generally with a lag of a few weeks to three months |
| We have been generally more successful (1) in North America than in Europe and (2) in electronic products than in networking products in increasing our prices to recapture the rising cost of materials |
| If we are unable to raise prices sufficiently to recover our material costs, our earnings will be reduced |
| If we raise our prices but competitors raise their prices less, we may lose sales, and our earnings will be reduced |
| We believe the supply of raw materials (copper, plastics, and other materials) is adequate and we do not expect any substantial interruption of supply or shortage of materials |
| If such a supply interruption or shortage were to occur, however, this could have a negative effect on revenue and earnings |
| The global wire and cable industry is highly competitive |
| We compete with other manufacturers of cable, wire, connectivity and related products based in North America, Europe and Asia |
| These companies compete on price, reputation and quality, product characteristics, and terms |
| Actions that may be taken by competitors, including pricing, business alliances, new product introductions, and other actions, could have a negative effect on our revenue and profitability |
| We rely on key suppliers, and we source some of our products from other manufacturers |
| There are only a few suppliers in the world for FEP, a polymer also known by the DuPont trade name Teflon^® |
| FEP is an important material in the manufacture of much of our data networking cable sold in North America |
| We believe the supply of FEP is adequate and will remain adequate in the future |
| If we were unable to obtain a sufficient supply of FEP, we might not be able to produce enough of certain products to meet demand, and our sales and profitability would be affected negatively |
| In addition, we might find it necessary to pay higher prices for scarce material and raise our product prices to compensate for higher material cost, a situation in which our price increases might lag our cost increases and depress our gross margins |
| Belden CDT sources a minor percentage of its finished products from a network of manufacturers under private label agreements |
| We depend on these manufacturers to supply high quality products in a timely manner |
| If there were problems with the quality or delivery of these private-label goods, our sales and profits would be negatively affected |
| We rely on several key distributors in marketing our product |
| The majority of our sales are through distributors |
| These distributors carry the products of competitors along with our products |
| Our largest distributor customer, Anixter International Inc, accounted for 16 percent of our revenue in 2005 |
| If we were to lose a key distributor, our revenue and profits would likely be reduced, at least temporarily |
| In the past, we have sometimes seen distributors acquired and consolidated |
| If there were further consolidation of the electronics and cable distributors, this could have an effect on our relationships with these distributors |
| It 12 _________________________________________________________________ [70]Table of Contents could also result in consolidation of distributor inventory, which would temporarily depress our revenue |
| We have also experienced financial failure of distributors from time to time, resulting in our inability to collect accounts receivable in full |
| Because we do business in many countries, our results of operations are affected by changes in currency exchange rates |
| Other than the United States dollar, the principal currencies to which we are exposed through our manufacturing operations and sales are the euro, the Canadian dollar and the British pound |
| Most of our products sold in Europe are manufactured there, resulting in a natural hedge, to some degree |
| Most of our products sold in Asia are priced in US dollars |
| When the US dollar strengthens against other currencies, the results of our non-US operations are translated at a lower exchange rate and thus into lower reported earnings |
| Our effective income tax rate may vary from year to year because of the mix of income and losses among various tax jurisdictions in which we do business |
| Our effective income tax rate is the result of the income tax rates in the various countries in which we do business |
| Our mix of income and losses in these jurisdictions determines our effective tax rate |
| More income in higher tax rate jurisdictions or more losses in lower tax rate jurisdictions would increase our effective tax rate and thus lower our net income |
| If we generate losses in tax jurisdictions for which no benefits are available, our effective income tax rate will increase |
| We might be unable to achieve planned cost savings |
| The plans for our business include both revenue improvement and cost saving initiatives |
| For example, the Company has announced a restructuring program for its European operations |
| The restructuring program is expected to reduce manufacturing costs in Europe |
| If we do not achieve all the planned savings, we might not achieve expected levels of profitability |
| We may incur costs related to warranty, product liability lawsuits, or other lawsuits or claims that may be brought against us |
| We have a reserve for expected warranty costs, but if actual costs are higher than expected, the excess costs will be recognized in future periods, reducing our income |
| Our products could be subject to product liability claims and litigation |
| If our products are not properly designed and manufactured, personal injuries, death, or property damage could result |
| The costs associated with defending product liability claims and payment of damages could be substantial |