Apart
from the uncertainty associated with the risks noted above and the lack of credible prudence in the budget projections, we continue to believe that the forecast for «other revenues» is overstated and that for «direct program expenses» is understated.
Not exact matches
the Company is also subject to a number of additional risks
associated with its business outside the United States, including foreign currency exchange fluctuations and restrictive regulations as well as the risks and
uncertainties associated with the United Kingdom's withdrawal
from the European Union;
Actual results and the timing of events could differ materially
from those anticipated in the forward - looking statements due to these risks and
uncertainties as well as other factors, which include, without limitation: the uncertain timing of, and risks relating to, the executive search process; risks related to the potential failure of eptinezumab to demonstrate safety and efficacy in clinical testing; Alder's ability to conduct clinical trials and studies of eptinezumab sufficient to achieve a positive completion; the availability of data at the expected times; the clinical, therapeutic and commercial value of eptinezumab; risks and
uncertainties related to regulatory application, review and approval processes and Alder's compliance
with applicable legal and regulatory requirements; risks and
uncertainties relating to the manufacture of eptinezumab; Alder's ability to obtain and protect intellectual property rights, and operate without infringing on the intellectual property rights of others; the uncertain timing and level of expenses
associated with Alder's development and commercialization activities; the sufficiency of Alder's capital and other resources; market competition; changes in economic and business conditions; and other factors discussed under the caption «Risk Factors» in Alder's Annual Report on Form 10 - K for the fiscal year ended December 31, 2017, which was filed
with the Securities and Exchange Commission (SEC) on February 26, 2018, and is available on the SEC's website at www.sec.gov.
Such risks,
uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection
with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection
with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection
with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services
from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal
from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection
with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks
associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks
associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Actual results, including
with respect to our targets and prospects, could differ materially due to a number of factors, including the risk that we may not obtain sufficient orders to achieve our targeted revenues; price competition in key markets; the risk that we or our channel partners are not able to develop and expand customer bases and accurately anticipate demand
from end customers, which can result in increased inventory and reduced orders as we experience wide fluctuations in supply and demand; the risk that our commercial Lighting Products results will continue to suffer if new issues arise regarding issues related to product quality for this business; the risk that we may experience production difficulties that preclude us
from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; our ability to lower costs; the risk that our results will suffer if we are unable to balance fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders
with a competitor's products instead; the risk that the economic and political
uncertainty caused by the proposed tariffs by the United States on Chinese goods, and any corresponding Chinese tariffs in response, may negatively impact demand for our products; product mix; risks
associated with the ramp - up of production of our new products, and our entry into new business channels different
from those in which we have historically operated; the risk that customers do not maintain their favorable perception of our brand and products, resulting in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs, including costs
associated with warranty returns or the potential recall of our products; ongoing
uncertainty in global economic conditions, infrastructure development or customer demand that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks resulting
from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that we are not able to enter into acceptable contractual arrangements
with the significant customers of the acquired Infineon RF Power business or otherwise not fully realize anticipated benefits of the transaction; the risk that retail customers may alter promotional pricing, increase promotion of a competitor's products over our products or reduce their inventory levels, all of which could negatively affect product demand; the risk that our investments may experience periods of significant stock price volatility causing us to recognize fair value losses on our investment; the risk posed by managing an increasingly complex supply chain that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products
with the required specifications and quality; the risk we may be required to record a significant charge to earnings if our goodwill or amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization of products under development, such as our pipeline of Wolfspeed products, improved LED chips, LED components, and LED lighting products risks related to our multi-year warranty periods for LED lighting products; risks
associated with acquisitions, divestitures, joint ventures or investments generally; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks
associated with ongoing litigation; and other factors discussed in our filings
with the Securities and Exchange Commission (SEC), including our report on Form 10 - K for the fiscal year ended June 25, 2017, and subsequent reports filed
with the SEC.
Risks
associated with the Consumer Discretionary sector include, among others, apparel price deflation due to low - cost entries, high inventory levels and pressure
from e-commerce players; reduction in traditional advertising dollars; increasing household debt levels that could limit consumer appetite for discretionary purchases; declining consumer acceptance of new product introductions; and geopolitical
uncertainty that could impact consumer sentiment.
Such risks and
uncertainties include, but are not limited to: our ability to achieve our financial, strategic and operational plans or initiatives; our ability to predict and manage medical costs and price effectively and develop and maintain good relationships
with physicians, hospitals and other health care providers; the impact of modifications to our operations and processes; our ability to identify potential strategic acquisitions or transactions and realize the expected benefits of such transactions, including
with respect to the Merger; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; the outcome of litigation, regulatory audits, investigations, actions and / or guaranty fund assessments;
uncertainties surrounding participation in government - sponsored programs such as Medicare; the effectiveness and security of our information technology and other business systems; unfavorable industry, economic or political conditions, including foreign currency movements; acts of war, terrorism, natural disasters or pandemics; our ability to obtain shareholder or regulatory approvals required for the Merger or the requirement to accept conditions that could reduce the anticipated benefits of the Merger as a condition to obtaining regulatory approvals; a longer time than anticipated to consummate the proposed Merger; problems regarding the successful integration of the businesses of Express Scripts and Cigna; unexpected costs regarding the proposed Merger; diversion of management's attention
from ongoing business operations and opportunities during the pendency of the Merger; potential litigation
associated with the proposed Merger; the ability to retain key personnel; the availability of financing, including relating to the proposed Merger; effects on the businesses as a result of
uncertainty surrounding the proposed Merger; as well as more specific risks and
uncertainties discussed in our most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.cigna.com as well as on Express Scripts» most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.express-scripts.com.
These statements are based on information available to Starbucks as of the date hereof, and Starbucks actual results or performance could differ materially
from those stated or implied, due to risks and
uncertainties associated with its business.
Using a hierarchical model, the authors combine information
from these various sources to obtain an ensemble estimate of current and future climate along
with an
associated measure of
uncertainty.
deCODE's actual results could differ materially
from those anticipated in the forward - looking statements as a result of risks and
uncertainties, including, without limitation, (1) the impact of the announcement of its bankruptcy filing on deCODE's operations; (2) the ability of deCODE to maintain sufficient debtor - in - possession financing to fund its operations and the expenses of the Chapter 11 proceeding; (3) the ability of deCODE to obtain court approval of its motions in the Chapter 11 proceeding; (4) the outcome and timing of the proposed sale of deCODE's assets, including deCODE's ability to close a transaction
with SagaInvestments, LLC or any other purchaser; (5) the
uncertainty associated with motions by third parties in the bankruptcy proceeding; (6) deCODE's ability to obtain and maintain normal terms
with vendors and service providers and contracts that are critical to its operation; and (7) other risks identified in deCODE's filings
with the Securities and Exchange Commission, including, without limitation, the risk factors identified in our most recent Annual Report on Form 10 - K and any updates to those risk factors filed
from time to time in our Quarterly Reports on Form 10 - Q or Current Reports on Form 8 - K.
The
uncertainties associated with reconstructing hemispheric mean or global mean temperatures
from these data increase substantially backward in time through this period and are not yet fully quantified.
Risks and
uncertainties include without limitation the effect of competitive and economic factors, and the Company's reaction to those factors, on consumer and business buying decisions
with respect to the Company's products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and / or increases in component costs could have on the Company's gross margin; the inventory risk
associated with the Company's need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company's business currently obtained by the Company
from sole or limited sources; the effect that the Company's dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks
associated with the Company's international operations; the Company's reliance on third - party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company's dependency on the performance of distributors, carriers and other resellers of the Company's products; the effect that product and service quality problems could have on the Company's sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings.
The large degree of
uncertainty associated with the effects of these policies logically led to a wide range of predictions
from commentators and practitioners, including the downfall of the US dollar, rapidly rising inflation, and the build - up of a significant bubble in the Treasury bond market.
The
uncertainty or risk
associated with 7 - year rates three years
from now is higher than the
uncertainty of 9.5 year rates 6 months
from now, so the first option should have a higher value.
Actual outcomes and results may vary materially
from these forward - looking statements based on a variety of risks and
uncertainties including: our dependence on key management and product development personnel, our dependence on our Grand Theft Auto products and our ability to develop other hit titles for current generation platforms, the timely release and significant market acceptance of our games, the ability to maintain acceptable pricing levels on our games, our ability to raise capital if needed and risks
associated with international operations.
Actual outcomes and results may vary materially
from these forward - looking statements based on a variety of risks and
uncertainties including: our dependence on key management and product development personnel, our dependence on our Grand Theft Auto products and our ability to develop other hit titles for current and next - generation platforms, the timely release and significant market acceptance of our games, the ability to maintain acceptable pricing levels on our games, our ability to raise capital if needed and risks
associated with international operations.
In this instance, however, the overall weight of the evidence
from the cumulative body of information contained in this Public Health Review demonstrates that there are significant
uncertainties about the kinds of adverse health outcomes that may be
associated with HVHF, the likelihood of the occurrence of adverse health outcomes, and the effectiveness of some of the mitigation measures in reducing or preventing environmental impacts which could adversely affect public health.
S1 which removed alternatively (a) all tree - ring data or (b) 7 additional long - term proxy records
associated with greater
uncertainties or potential documented biases (showing the temperature reconstruction was robust to removal of either of these datasets), we here removed both data sets simultaneously
from the predictor network (Fig.
The numerous technical and operational breakdowns that contributed to the Deepwater Horizon oil rig explosion and spill
from the Macondo well in the Gulf of Mexico suggest the lack of a suitable approach for managing the inherent risks,
uncertainties, and dangers
associated with deepwater drilling operations and a failure to learn
from previous «near misses.»
Note that this figure illustrates the
uncertainties arising
from different greenhouse gas scenarios and climate models, but almost certainly underestimates the
uncertainty associated with carbon - cycle feedbacks.»
There are significant
uncertainties associated with the scale, nature, and environmental impacts of different sectors of economic activity and stemming
from the interplay between different sectors.
But the report states that «
uncertainties associated with the various factors and methodologies used in data set development make 2005 statistically indistinguishable
from 1998.»
Previous large natural oscillations are important to examine: however, 1) our data isn't as good
with regards to external forcings or to historical temperatures, making attribution more difficult, 2) to the extent that we have solar and volcanic data, and paleoclimate temperature records, they are indeed fairly consistent
with each other within their respective
uncertainties, and 3) most mechanisms of internal variability would have different fingerprints: eg, shifting of warmth
from the oceans to the atmosphere (but we see warming in both), or simultaneous warming of the troposphere and stratosphere, or shifts in global temperature
associated with major ocean current shifts which for the most part haven't been seen.
Statistical analysis by Lewandowsky et al. finds that, contrary to our intuition, «increasing
uncertainty is necessarily
associated with greater expected damages
from warming, provided the function relating warming to damages is convex.»
A new study by Prof Jason Lowe and Dr Dan Bernie at the UK's Met Office Hadley Centre takes these CMIP5 models and tries to account for additional
uncertainties in the carbon budget
associated with feedbacks, such as carbon released by thawing of permafrost or methane production
from wetlands, as a result of climate change.
Not proceeding
with this procurement also represents a missed opportunity to mitigate the risks and
uncertainties associated with the costs and timing of the Pickering Generating Station operating licence extension, Ontario's ambitious nuclear refurbishment plan, and the
uncertainty of supply
from outside of the province.
The
uncertainties associated with reconstructing hemispheric mean or global mean temperatures
from these data increase substantially backward in time through this period and are not yet fully quantified.
In summary, our results show that in the CESM - LE, the range of
uncertainty in projected NAO trends and
associated influences on SAT and P over the next 30 years can be obtained to a large degree
from the Gaussian statistics of NAO variability during the historical period,
with some regional exceptions possibly
associated with AMOC variability.
For these reasons I trust the sensitivity based on the paleo data far more than I trust the sensitivity based on the instrumental period, and that trust is vindicated by the level of
uncertainty associated with the sensitivity derived
from each.
Geoengineering is portrayed in the fictional newspaper article as a strategy
with no
uncertainty about how well it might work and, it is claimed, will «spare consumers and businesses
from the heavy economic costs
associated with the regulations necessary to reduce atmospheric CO2 concentrations to 450 ppm or lower».
Moreover, models that strive to incorporate everything,
from aerosols to vegetation and volcanoes to ocean currents, may look convincing, but the error range
associated with each additional factor results in near - total
uncertainty.
... The
uncertainties given by RSOA due to data gaps and random errors (Figure 1a) were augmented using published estimates of global
uncertainties associated with urbanization effects (e.g. Jones et al., 1990),... We assume that the global average LAT
uncertainty increased
from zero in 1900 to 0.1 °C in 1990 (Jones et al, 1990), a value we extrapolate to 0.12 °C in 2000 (Figure 1a).
Dr. Levy, Joel Schwartz and Lisa K. Baxter completed a study in 2009, «
Uncertainty and Variability in Health - Related Damages
from Coal - Fired Power Plants in the United States», published in the journal Risk Analysis, that models the monetized health damages
associated with 407 coal - fired power plants in the United States.
They fail to understand the broader dimensions of scenario
uncertainty as well as the existence of flat out ignorance on a number of topics, plus the ambiguity
associated with arguments for the warming made
from the perspective of natural variability.
Apart
from the first type of
uncertainty, there is sigmoid
uncertainty: the TCR will be different by region and by timespan and so will have slower and faster rates of change
associated with it, sometimes stringing together as massive spikes, and always less predictable than we would desire.
Given an ensemble of models
from which an observable variable takes the mean value m 1 = 0 (without loss of generality) and standard deviation s 1, and an observation of this variable which takes the value m 2
with associated uncertainty s 2, the observation is initially at a normalised distance m 2 / s 1
from the ensemble mean.
Using results
from the HadCM2 four - member ensemble experiments, Giorgi and Francisco (2000), for example, suggest that
uncertainty in future regional climate change
associated with internal climate variability at sub-continental scales (107 km2), is generally smaller than the
uncertainty associated with inter-model or forcing differences.
Viewing the statistical analysis
from a more fundamental level will help to clarify some of the methodologies used in surface temperature reconstruction and highlight the different types of
uncertainties associated with these various methods.
While attending to the problems of proof that frequently arise after a motor vehicle injury, our lawyers are fully committed to helping people deal
with the problems and
uncertainties associated with time lost
from work, slow convalescence or the psychological consequences of a traumatic accident.
Aside
from offering cheap commercial hydroelectricity, Manitoba experiences among the lowest temperatures of major cities in North America — which has recently garnered the attention of major cryptocurrency mining companies seeking to flee the regulatory
uncertainty presently
associated with China.
Forward - looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different
from those expressed or implied by such forward - looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation of personnel and operating costs; general global markets and economic conditions; risks
associated with uninsurable risks; risks
associated with currency fluctuations; competition faced in securing experienced personnel
with appropriate industry experience and expertise; risks
associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies and ICO's; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company's business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation.
Drawing
from the theory, we predicted that (a) relational
uncertainty and interference
from partners are positively
associated with cognitive and emotional jealousies; (b) the intensity of romantic jealousy, relational intimacy, and a partner's interference is positively
associated with the directness of communication about jealousy; (c) relational
uncertainty is negatively
associated with communicative directness; and (d) cognitive jealousy, emotional jealousy, and the directness of communicative responses to jealousy influence subsequent relationship characteristics.