Automatic Data Processing (ADP)

Risks

• Failure to comply with, or changes in, laws and regulations applicable to our businesses could have a materially adverse effect on our reputation, results of operations or financial condition, or have other adverse consequences
• Failure to comply with anti-corruption laws and regulations, economic and trade sanctions, anti-money laundering laws and regulations, and similar laws could have a materially adverse effect on our reputation, results of operations or financial condition, or have other adverse consequences
• Failure to comply with privacy, data protection and cyber security laws and regulations could have a materially adverse effect on our reputation, results of operations or financial condition, or have other adverse consequences
• If we fail to protect our intellectual property rights, it could materially adversely affect our business and our brand
• We may be sued by third parties for infringement of their proprietary rights, which could have a materially adverse effect on our business, financial condition or results of operations
• Our businesses collect, host, store, transfer, process, disclose, use, secure and retain and dispose of personal and business information, and collect, hold and transmit client funds, and a security or privacy breach may damage or disrupt our businesses, result in the disclosure of confidential information, damage our reputation, increase our costs, cause losses and materially adversely affect our results of operations
• Our systems, applications, solutions and services may be subject to disruptions that could have a materially adverse effect on our business and reputation
• A disruption of the data centers or cloud-computing or other technology services or systems that we utilize could have a materially adverse effect on our business
• If we fail to upgrade, enhance and expand our technology and services to meet client needs and preferences, the demand for our solutions and services may materially diminish
• We may not realize or sustain the expected benefits from our business transformation initiatives, and these efforts could have a materially adverse effect on our business, operations, financial condition, results of operations and competitive position
• A major natural disaster or catastrophic event could have a materially adverse effect on our business, financial
• condition and results of operations, or have other adverse consequences
• Change in our credit ratings could adversely impact our operations and lower our profitability
• Our business could be negatively impacted as a result of actions by activist stockholders or others
• We may be unable to attract and retain qualified personnel