What the 10-K filed 2026-02-19 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-20.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
No specific sentence about this in the 10-K.
Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
No specific sentence about this in the 10-K.
Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
“These estimates of probable loss have been developed in consultation with in-house and outside counsel and are based on an analysis of potential results, assuming a combination of litigation and settlement strategies.”
Read it in the 10-K ↗
Guarantees and indemnities
1 newPromises to pay someone else's debts or losses if they cannot.
New “The decrease was primarily due to lower gains in Argentina related to foreign currency positioning compared to the prior year, as well as a $15 million reserve for expected credit losses related to certain loan guarantees for a minority investment in South America.”
Read it in the 10-K ↗
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“Our credit facilities and certain senior notes require us to comply with specified financial covenants, including minimum current ratio, maximum debt to capitalization ratio, and limitations on secured indebtedness.”
Read it in the 10-K ↗
“We were in compliance with these covenants as of December 31, 2025.”
Read it in the 10-K ↗
Commitments off the balance sheet
2 newContracts the company must pay for later: purchase obligations, take-or-pay deals.
New “These increases were partially offset by an $89 million reduction on the acquisition of noncontrolling interest in Terminal de Granéis de Santa Catarina ("TGSC") (see Note 11- Investments in Affiliates and Variable Interest Entities to our consolidated financial statements).”
Read it in the 10-K ↗
New “These increases were partially offset by higher cash dividends and an $18 million payment for the acquisition of noncontrolling interest in TGSC (see Note 11- Investments in Affiliates and Variable Interest Entities to our consolidated financial statements).”
Read it in the 10-K ↗
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on BG in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/BG/export.csv") into a cell.