TD Synnex (SNX): what its 10-K says it depends on

Customers

Unnamed major customer

earns from · 11%named as a risk

One customer accounted for 11%, 12% and 11% of our total revenue in fiscal years 2025, 2024 and 2023, respectively.Risk factors (Item 1A)

Suppliers

Apple Inc.

depends on · 12%named as a risk

For example, sales of Apple Inc. products and services comprised approximately 12%, 12%, and 11% of our total revenue for fiscal years 2025, 2024, and 2023, respectively and sales from HP, Inc. comprised approximately 10% of our total revenue for fiscal year 2025.Risk factors (Item 1A)

Also named by CINF, IDCC, MP, SWKS

HP Inc.

depends on · 10%named as a risk

For example, sales of Apple Inc. products and services comprised approximately 12%, 12%, and 11% of our total revenue for fiscal years 2025, 2024, and 2023, respectively and sales from HP, Inc. comprised approximately 10% of our total revenue for fiscal year 2025.Risk factors (Item 1A)

Also named by A, CDW, HPE, KEYS

FedEx

depends onnamed as a risk

We rely almost entirely on arrangements with independent shipping companies, such as FedEx and UPS, for the delivery of our products from OEM suppliers and delivery of products to reseller and retail customers.Risk factors (Item 1A)

Also named by DKS, O, USFD

UPS

depends onnamed as a risk

We rely almost entirely on arrangements with independent shipping companies, such as FedEx and UPS, for the delivery of our products from OEM suppliers and delivery of products to reseller and retail customers.Risk factors (Item 1A)

Also named by RVTY

Partners and platforms

TD SYNNEX Revolving Credit Facility

depends on · $3.5 billion in unused commitments

For example, as of November 30, 2025, we had access to $3.5 billion in unused commitments under the TD SYNNEX Revolving Credit Facility (as defined in the Liquidity and Capital Resources section of Item 7 of this Report).Risk factors (Item 1A)

Accounts receivable securitization program

depends onnamed as a risk

In addition, the failure of customers to pay within a specified time period after the date of an invoice could result in defaults under our accounts receivable securitization program.Risk factors (Item 1A)

Also named by LAMR

Supplier Finance Programs

depends onnamed as a risk

Significant changes in these Supplier Finance Programs or in other vendor payment terms could negatively impact our liquidity and financial condition.Risk factors (Item 1A)

Other companies

Variable rate debt

exposed to its price · $750.0 million of outstanding term loan debtnamed as a risk

As of November 30, 2025, we had $750.0 million of outstanding term loan debt subject to variable interest rates and our subsidiaries had approximately $319.3 million in the aggregate outstanding under debt facilities subject to variable interest rates.Market risk (Item 7A)

Also named by COHR, CSW, DOC, MGRC, O, PKG, SNEX, TOL

Competitors

Jabil Inc.

competes with

We also compete against companies who participate within the hyperscale computing infrastructure market including Jabil Inc., Celestica, Flex Ltd., Quanta Computer Inc. and Wiwynn Corporation.Business (Item 1)

Also named by ANET, CLS

Quanta Computer Inc.

competes with

We also compete against companies who participate within the hyperscale computing infrastructure market including Jabil Inc., Celestica, Flex Ltd., Quanta Computer Inc. and Wiwynn Corporation.Business (Item 1)

Also named by CLS, EXTR

Arrow Electronics, Inc.

competes with

We compete against several international distributors, including Ingram Micro Holding Corporation, Arrow Electronics, Inc. and Westcon-Comstor, as well as regional distributors including ScanSource, Inc., ALSO Holding, Esprinet, VSTECS Holdings Ltd. and Synnex Technology International Corp. (a separate and unrelated entity from the Company).Business (Item 1)

Also named by LFUS

Ingram Micro Holding Corporation

competes with

We compete against several international distributors, including Ingram Micro Holding Corporation, Arrow Electronics, Inc. and Westcon-Comstor, as well as regional distributors including ScanSource, Inc., ALSO Holding, Esprinet, VSTECS Holdings Ltd. and Synnex Technology International Corp. (a separate and unrelated entity from the Company).Business (Item 1)

Places

International operations (outside United States)

earns from · Approximately 48%named as a risk

Approximately 48%, 47% and 47% of our revenues in fiscal years 2025, 2024 and 2023, respectively, were generated outside the United States.Risk factors (Item 1A)

Also named by APG, AXP, CARR, COP, COST, DD, ECL, EQIX and 14 more

China

concentrated innamed as a risk

A significant portion of our IT systems support and software development activities are located in China.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Taiwan

operates in

We operate our principal systems design and integration solutions facilities in the United States with additional locations in Taiwan, the United Kingdom and China.Business (Item 1)

Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more

Hazards

Hurricanes

operates innamed as a risk

Certain of our facilities, including our corporate headquarters locations in Clearwater, Florida and Fremont, California, are located in geographic areas that heighten our exposure to hurricanes, tropical storms, earthquakes and other severe weather events.Risk factors (Item 1A)

Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more

Earthquakes

operates innamed as a risk

Certain of our facilities, including our corporate headquarters locations in Clearwater, Florida and Fremont, California, are located in geographic areas that heighten our exposure to hurricanes, tropical storms, earthquakes and other severe weather events.Risk factors (Item 1A)

Also named by AAPL, AMKR, AN, ANET, APP, BRO, CDNS, CEG and 37 more

Commodities and inputs

Chinese Renminbi

exposed to its pricenamed as a risk

Some currencies, such as the Chinese Renminbi are subject to limitations on conversion into other currencies, which can limit our ability to hedge or to otherwise react to rapid foreign currency devaluations.Risk factors (Item 1A)

Also named by AAOI, ALB, AOS, APD, BBW, BWA, CGNX, COHR and 15 more

Freight and fuel costs

exposed to its pricenamed as a risk

As a result, an increase in freight surcharges due to inflation, rising fuel cost or general price increases will have an immediate adverse effect on our margins, unless we are able to pass the increased charges to our reseller and retail customers or renegotiate terms with our OEM suppliers.Risk factors (Item 1A)

Laws and programs

OECD Pillar Two global minimum tax

subject to · 15%named as a risk

Due to these new rules, our income tax expense could be unfavorably impacted as the legislation becomes effective in countries in which we conduct business.Risk factors (Item 1A)

Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more

General Data Protection Regulation (GDPR)

subject tonamed as a risk

The General Data Protection Regulation (“GDPR”) in Europe, the California Consumer Privacy Act and other similar laws have resulted, and will continue to result, in increased compliance costs.Risk factors (Item 1A)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

California Consumer Privacy Act

subject tonamed as a risk

The General Data Protection Regulation (“GDPR”) in Europe, the California Consumer Privacy Act and other similar laws have resulted, and will continue to result, in increased compliance costs.Risk factors (Item 1A)

Also named by AAP, AIOT, AKAM, ALL, APP, AYI, BAC, BBSI and 69 more

Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk

For example, periodically, we receive reports directly from co-workers, vendors and customers related to, or otherwise become aware of, potential non-compliance with our Code of Conduct and various U.S. or foreign laws, such as the FCPA, U.K. bribery laws or local anti-corruption laws.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

U.S.-China trade tensions and tariffs

subject tonamed as a risk

Geopolitical tensions, including with respect to trade disputes or barriers, tariffs, sanctions, import/export restrictions, investment restrictions, or other governmental actions could materially and negatively impact our China-based operations and our access to our China-based personnel.Risk factors (Item 1A)

Technology

Hyperscale computing infrastructure (Hyve)

earns fromnamed as a risk

For example, our systems design and integration solutions product line has significant customer concentration, requires investments in working capital and infrastructure, and has customer contracts that often offer limited or no volume guarantees or protection for end-of-life investments.Risk factors (Item 1A)