Company: TTMI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024839
Chunk: 51

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1A
Chunk 51
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 2024, we generated approximately 47% of our net sales from non-U.S. operations, and a significant portion of our manufacturing material was provided by international suppliers during this period. The United States’ trade policies and those of foreign countries are subject to change which could adversely affect our ability to purchase and sell goods and materials without significant tariffs, taxes, or duties that may be imposed on the materials we purchase or the goods we sell, thereby increasing the cost of such materials and potentially decreasing our margins. Further, our revenues could be impacted if our customers’ ability to sell their goods is reduced by such tariffs, taxes, or duties. Both the U.S. and Chinese governments have included PCBs among items subjected to tariffs imposed on imports from such countries, which may negatively impact our revenue and profitability. In addition, we are subject to risks relating to significant international operations, including but not limited to:

•managing international operations;

•imposition of governmental controls;

•unstable regulatory environments;

•compliance with employment laws;

•implementation of disclosure controls, internal controls, financial reporting systems, and governance standards to comply with U.S. accounting and securities laws and regulations;

•limitations on imports or exports of our product offerings;

•fluctuations in the value of local currencies;

•inflation or changes in political and economic conditions;

•public health crises;

•labor unrest, rising wages, difficulties in staffing, and geographical labor shortages;

•government or political unrest;

•conflict or war between nations over territory that impacts the electronics supply chain leading to potential trade restrictions to and from the nations involved, including Russia, Ukraine, and China;

•longer payment cycles;

•language and communication barriers, as well as time zone differences;

•cultural differences;

•increases in duties and taxation levied on our products;

•other potentially adverse tax consequences;

•imposition of restrictions on currency conversion or the transfer of funds;

•travel restrictions;

•expropriation of private enterprises;

•the potential reversal of current favorable policies encouraging foreign investment and trade;

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•the potential for strained trade relationships between the United States and its trading partners, including trade tariffs which could create competitive pricing risk; and

•government imposed sanction laws and regulations.

Further, the conflict between Russia and Ukraine and in other global regions described in the previous risk factor, and the effects thereof, may adversely affect our manufacturing facilities and our customers.

We are subject to risks of currency fluctuations.

A portion of our cash, other assets and liabilities is held in