Constellation Brands (STZ) risk factors: FY2026 10-K

1. Potential declines in the consumption of products we sell; dependence on sales of our beer brandsreworded
2. President and Chief Executive Officer transitionnew
3. Acquisition, divestiture, investment, and NPD strategies and activities
4. Dependence upon trademarks and proprietary rights; failure to protect our intellectual property rights

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1. Economic and other uncertainties associated with our international operations, including tariffsTariffs
2. Supply of quality water, agricultural, and other raw materials, certain raw and packaging materials purchased under supply contracts; supply chain disruptions and other factors; limited group of certain suppliers
3. Reliance upon complex information systems and third-party global networks; cybersecurity; AIAICybersecurity
4. Dependence on limited facilities for production of our beer brands; impacts from Brewery Projectsnew
5. Operational disruptions or catastrophic loss to breweries, wineries, other facilities, or distribution systemsreworded
6. Severe weather and natural or man-made disasters; climate change; environmental sustainability and CSR-related regulatory compliance; failure to meet environmental sustainability and CSR commitments and aspirationsreworded
7. Success of cost savings, restructuring, and efficiency initiativesreworded
8. Reliance on wholesale distributors, major retailers, and government agencies
9. Food safety and quality, including contamination and product degradation from diseases, pests, and weather and other conditionsreworded
10. Outbreaks of communicable infections or diseases, pandemics, or other widespread public health crises impacting our consumers, Customers, employees, and/or suppliersreworded
11. Labor activities could increase our costs

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1. Indebtedness, credit ratings, interest rate fluctuations, and credit market disruptions or volatilitynewInterest rates
2. International operations, worldwide and regional economic trends and financial market conditions, geopolitical uncertainty, or other governmental rules and regulations
3. Class action or other litigation, including relating to alleged securities law violations, abuse or misuse of our products, product liability, marketing or sales practices, or other mattersreworded
4. Intangible assets, such as goodwill and trademarks
5. Changes to tax laws; fluctuations in our effective tax rate; accounting for tax positions; resolution of tax disputes; changes to accounting standards, elections, assertions, or policies; global minimum tax
6. Cash dividends and share repurchases are subject to a number of uncertainties and may affect the price of our common stock

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1. Sands Family Stockholder Class A Stock ownership and Board of Directors nomination rights
2. Choice-of-forum provision in our Amended and Restated By-laws regarding certain stockholder litigation

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Headings in the FY2025 10-K with no match this year.

1. Dependence on limited facilities for production of our Mexican beer brands; facility expansion, optimization, and construction activities
2. Indebtedness and interest rate fluctuations