14 from the actuarial assumptions or the actuarial assumptions are changed, the funded status of our defined benefit pension plans may change and any such deficiency could result in additional char ges to equity and an increase in our future pension expense and cash contributions. • Environmental liabilities could potentially adversely impact us and our af filiates. W e are subject to federal, state, local and foreign environmental protection laws and regulations governing our operations and the use, handling, disposal and remediation of hazardous substances currently or formerly used by us and our af filiates. A risk of environmental liability is inherent in our and our af filiates' current and former manufacturing activities in the event of a release or dischar ge of a hazardous substance generated by us or our af filiates. Under certain environmental laws, we could be held jointly and severally responsible for the remediation of any hazardous substance contamination at our current and former facilities and at third party waste disposal sites. W e could also be held liable for any consequences arising out of human exposure to such substances or other environmental damage. W e and our af filiates have been named as potentially responsible parties in proceedings that involve environmental remediation. There can be no assurance that the costs of complying with environmental, health and safety laws and requirements in our current operations or the liabilities arising from past releases of, or exposure to, hazardous substances, will not result in future expenditures by us that could materially and adversely af fect our financial results, cash flows or financial condition. • W e are subject to certain asbestos litigation and unexpected judgments or settlements that could have a material adverse ef fect on our financial results. Our subsidiaries have been named as defendants in non-maritime asbestos cases which involve plaintif fs alleging exposure to asbestos-containing cable manufactured by our predecessors. Our subsidiaries have also been named, along with numerous other product manufacturers, as defendants in cases in which plaintif fs alleged that they suf fered an asbestos related injury while working in the maritime industry . Refer to Item 3 - Legal Proceedings - of this document for a summary of our outstanding asbestos related litigation. There can be no assurance that any judgments or settlements of the pending asbestos cases or any cases which may be filed in the future will not have a material adverse ef fect on our financial results, cash flows or financial position. • Pending antitrust and competition law investigations relating to the cable industry could negatively impact our Company . The U.S. Department of Justice (“DOJ”) and the European Commission have been conducting antitrust and competition law investigations relating to the cable industry , which we believe relate primarily to the submarine and under ground high-voltage power cables businesses. W e were not engaged in the submarine power cable business prior to 2009. W e only recently entered the submarine power cable business in March 2009 through our German af filiate, Norddeutsche Seekabelwerke GmbH & Co., which we acquired in 2007 and subsequently invested in so that we could enter the market. W e have received requests for information from both the DOJ and the European Commission and provided documents and responses to inquiries in connection with their investigations. W e may receive further requests for information from the DOJ. No wrongdoing by us or any of our subsidiaries has been alleged by the DOJ nor have we been named in any other cases or proceedings which have been brought by competition authorities in various countries against wire and cable companies in the submarine and under ground power cables businesses. If any claims were to be made, defending them could involve us in lengthy proceedings. On July 5, 201 1, the European Commission issued a Statement of Objections in relation to its ongoing competition investigation alleging that two General Cable af filiates in Europe engaged in violations of competition law in the under ground power cables businesses for a limited period of time. The Company responded to the Statement of Objections on October 28, 201 1 and continues to defend itself against the allegations. The defense of the Company in response to the European Commission's Statement of Objections could involve us in lengthy proceedings. If we or our subsidiaries were found to have violated antitrust or competition regulations at any time, we or our subsidiaries could be subject to fines and claims for damages, which could be substantial and materially impact our consolidated financial results. • If we fail to attract and retain our key employees, our business may be harmed. Our success has been lar gely dependent on the skills, experience and ef forts of our key employees and the loss of the services of any of our executive of ficers or other key employees, without a properly executed transition plan, could have an adverse af fect on us. The loss of our key employees who have intimate knowledge of our manufacturing process could lead to increased competition to the extent that those employees are hired by a competitor and are able to recreate our manufacturing process. Our future success will also depend in part upon our continuing ability to attract and retain highly qualified personnel, who are in great demand. • Our indebtedness and our ability to pay could adversely af fect our business and financial condition. T able of Contents