What the 10-K filed 2026-02-10 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 2025-02-11.
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.
“We single source a number of parts and raw materials critical to our business operations.”
Read it in the 10-K ↗
Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
No specific sentence about this in the 10-K.
Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
“At December 31, 2025, the maximum potential loss related to these guarantees was $46 million.”
Read it in the 10-K ↗
“These performance bonds and other performance-related guarantees were $221 million at December 31, 2025.”
Read it in the 10-K ↗
“Because the indemnifications are not related to specified known liabilities and due to their uncertain nature, we are unable to estimate the maximum amount of the potential loss associated with these indemnifications.”
Read it in the 10-K ↗
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“The credit agreements include various financial covenants, including, among others, maintaining a net debt to capital ratio of no more than 0.65 to 1.0.”
Read it in the 10-K ↗
“Our credit agreements include various covenants, including, among others, maintaining a net debt to total capital ratio of no more than 0.65 to 1.0.”
Read it in the 10-K ↗
“At December 31, 2025, we were in compliance with the financial debt covenants.”
Read it in the 10-K ↗
“The most restrictive of these covenants applies to our revolving credit facility which will upon default, among other things, limit our ability to incur additional debt or issue preferred stock, enter into sale-leaseback transactions, sell or create liens on our assets, make investments and merge or consolidate with any other entity.”
Read it in the 10-K ↗
“At December 31, 2025, we were in compliance with all of the financial debt covenants under our borrowing agreements.”
Read it in the 10-K ↗
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this 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 CMI 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/CMI/export.csv") into a cell.