Changed Risks for ACCO BRANDS CORP (ACCO)

A limited number of large customers account for a significant percentage of our net sales, and a substantial reduction in sales to, or gross profit from, or a significant decline in the financial condition of, one or more of these customers can materially adversely impact our business and results of operations

Shifts in the channels of distribution for our products have, and could continue to, adversely impact our sales, margins and results of operations

Security breaches could compromise our confidential and proprietary information, as well as any personally identifiable information we hold, and expose us to operational and legal risks which could cause our business and reputation to suffer and materially adversely affect our results of operations

Our operating results have, and may continue to be, adversely affected by changes in cost of products sold, including the cost or availability of raw materials, transportation, labor, and other necessary supplies and services and the cost of finished goods

Continued declines in the use of certain of our products have and could continue to adversely affect our business

Changes in US trade policies and regulations, as well as the overall uncertainty surrounding international trade relations, could have a material adverse effect on our business, results of operations and financial condition

The anticipated positive effects of the US Tax Cuts and Jobs Act (the "US Tax Act") on our financial results may not be fully realized and could adversely impact our net income and cash flow