27 paragraphs in Risk Factors of the 10-K filed Feb 26, 2026
with nothing like them in the 10-K filed Feb 27, 2025. Quoted exactly.
Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 81 Industrials companies:
a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it.
A paragraph most of them have is marked boilerplate. No line means no other company has one like it.
This counts text; it does not say how serious a risk is.
We are subject to risks relating to acquisitions, joint ventures and investments, and risks relating to the integration of acquired companies.
Similar paragraph at 1 of 81 other Industrials companies:
PHAs part of our strategy, we pursue strategic transactions, including but not limited to acquisitions, joint ventures, and investments. Acquisitions and investments may involve significant cash expenditures, debt incurrences, equity issuances, operating losses and expenses, in addition to integration challenges whether foreseen or unforeseen, which may be dilutive to earnings and unfavorably impact cash flow. Acquisitions also involve numerous other risks, including: the diversion of management attention to integration matters; difficulties in integrating operations and systems; challenges in conforming standards, controls, procedures and accounting and other policies, business cultures and compensation structures; difficulties in assimilating employees and in attracting and retaining key personnel; challenges in keeping existing customers and obtaining new customers; difficulties in achieving anticipated cost savings, synergies, business opportunities and growth prospects; contingent liabilities (including contingent tax liabilities and earn-out obligations) that are larger than expected; and potential unknown liabilities, adverse consequences and unforeseen increased expenses associated with acquired companies. Financial success of a strategic transaction requires balancing both short- and long-term inputs driven by internal and external factors difficult to fully identify prior to transaction consummation. Transactional challenges post-closing could materially and adversely impact our business, financial condition and results of operations.
Similar paragraph at 1 of 81 other Industrials companies:
JCI
Our business requires that we buy raw materials, components, and services from third parties. Supplier relationships have in the past been and could in the future be interrupted or terminated. Our reliance on suppliers involves certain risks, including:
Similar paragraph at 1 of 81 other Industrials companies:
ROK•shortages of commodities, components, or other materials, which could adversely affect our manufacturing efficiencies and ability to make timely delivery of our products, solutions, and services;
Similar paragraph at 1 of 81 other Industrials companies:
ROK•changes in the cost of these purchases due to inflation, exchange rate fluctuations, taxes, tariffs, commodity market volatility, or other factors that affect our suppliers;
Similar paragraph at 1 of 81 other Industrials companies:
ROK•poor quality or insecure supply chain, which could adversely affect the reliability and reputation of our products, solutions, and services;
Similar paragraph at 1 of 81 other Industrials companies:
ROK•climate impacts, severe weather events, or natural and other disasters that impact our suppliers;
Similar paragraph at 1 of 81 other Industrials companies:
URI•sanctions, embargoes, and other trade restrictions that may affect our ability to purchase commodities, components, or other materials from various suppliers; and
Similar paragraph at 1 of 81 other Industrials companies:
ROK•intellectual property risks such as challenges to ownership of rights or alleged infringement by suppliers.
Similar paragraph at 1 of 81 other Industrials companies:
ROKAny of these uncertainties could adversely impact our financial results and ability to compete. We also maintain single-source supplier relationships because either alternative sources are not available, or the relationship is advantageous due to certain considerations, such as performance, quality, support, delivery, capacity, or price. Unavailability of, or delivery delays for, single-source components or products could adversely affect our ability to manufacture or ship the related products in a timely manner. The effect of unavailability or delivery delays would be more severe if associated with our higher volume and more profitable products. Even where substitute sources of supply are available, qualifying alternative suppliers and establishing reliable supplies could cost more or result in delays and loss of sales.
Similar paragraph at 1 of 81 other Industrials companies:
ROKWe may rely on third-party suppliers for the components used in our products, and we may rely on third-party manufacturers to manufacture certain of our assemblies and finished products. Our results of operations, financial position, and cash flows could be adversely affected if such third parties lack sufficient quality control or if there are significant changes in their financial or business condition. If these third parties fail to deliver quality products, parts, and components on time and at reasonable prices, we could have difficulties fulfilling our orders, sales and profits could decline, and our commercial reputation could be damaged.
Risks and uncertainties related to the development and use of artificial intelligence may present business, compliance and reputational risks.
Similar paragraph at 4 of 81 other Industrials companies:
IR,
JCI,
LII,
NDSNRecent technological advances in artificial intelligence (AI) and machine-learning technology have presented opportunities for us to drive internal efficiencies in our business operations, but they also pose risks to us. If we fail to keep pace with rapidly evolving technological developments in AI, our competitive position and business results may suffer, particularly if our competitors more effectively use AI to drive their business efficiencies or create new or enhanced products or services that we are unable to compete against on cost, quality or other attributes. However, the introduction of AI technologies, particularly generative AI, into internal processes and/or new and existing offerings may result in new or expanded risks and liabilities, including due to enhanced governmental or regulatory scrutiny, litigation, compliance issues, ethical concerns, confidentiality or security risks, as well as other factors that could adversely affect our business, reputation, and financial results. Furthermore, any confidential information that is disclosed to a third-party generative AI platform could be leaked or disclosed to others, which could result in loss or theft of intellectual property, as well as subject us to risks related to intellectual property infringement or misappropriation, data privacy and cybersecurity. Moreover, the use of AI may give rise to risks related to harmful content, accuracy, and bias, which could expose us to risks related to inaccuracies or errors in the output of such technologies. The rapidly evolving legal and regulatory environment relating to AI, in the United States and globally, could also impact Eaton’s implementation of AI technology, and increase compliance costs and the risk of non-compliance.
Similar paragraph at 3 of 81 other Industrials companies:
JCI,
LII,
NDSN
Extreme weather events may create physical risks to our operating locations and supply chains, as well as to our suppliers’ and customers’ operations. Operational, environmental and social regulations may pose stringent obligations on our operations, which could impact our financial results and adversely affect our ability to conduct normal business operations. Those events could also change customer and market demands, and we may not be able to move quickly enough to meet such demands or meet all of the varying demands from different geographic regions, markets and business sector, which could negatively affect our business, results of operations, and financial condition.
Our ability to identify, attract, develop, engage, and retain qualified employees could affect our ability to execute our strategy.
Similar paragraph at 1 of 81 other Industrials companies:
DEThe market for employees and leaders with certain skills and experiences is very competitive. Our continued success depends, in part, on our ability to identify, attract, develop, engage, and retain qualified candidates with the requisite education, background, technical skills, industry knowledge, and experience. Failure to attract, develop, engage, and retain qualified employees, difficulty in recruiting new employees, perceived or actual erosion of our culture, or inadequate resources to train, integrate, and retain qualified employees, could impair our ability to execute our business strategy and could adversely affect our business, results of operations, and financial condition.
Similar paragraph at 1 of 81 other Industrials companies:
DEIn addition, the nature of our business requires us to maintain a labor force that is sufficiently large enough to support our manufacturing operations to meet customer demand, as well as provide on-site services and project support for our customers. We have in the past experienced, and could in the future experience, shortages for skilled or unskilled labor, which has in the past and could in the future negatively impact our growth and results of operations.
Similar paragraph at 1 of 81 other Industrials companies:
JCIWe may not complete the anticipated spin-off or complete it within the time frame we anticipate or at all; the spin-off may present difficulties that could have an adverse effect on us; costs associated with the spin-off may be higher than anticipated; we may not realize some or all of the expected benefits of the spin-off.
On January 26, 2026, we announced our intention to spin-off our Mobility business, which consists of the legacy Vehicle and eMobility segments, by the end of the first quarter of 2027, subject to the satisfaction of customary legal and regulatory requirements and approvals. The failure to satisfy all the required conditions could delay the completion of the spin-off for a significant period of time or prevent it from occurring at all. Spin-offs are complex in nature, and unanticipated developments or changes, including changes in law, the macroeconomic environment and market conditions or regulatory or political conditions may affect our ability to complete the anticipated spin-off as currently expected, within the anticipated time frame or at all. Any changes to the spin-off or delay in completing it could cause us not to realize some or all of the expected benefits, or realize them on a different timeline than expected. In addition, the terms and conditions of the required regulatory authorizations and consents that are granted, if any, may impose requirements, limitations or costs, or place restrictions on the conduct of the Mobility business, as an independent company, and may materially delay the completion of the spin-off. Whether or not the spin-off is completed, our business may face material challenges in connection with this transaction, including, without limitation: the diversion of management’s attention from ongoing business concerns; attracting and retaining key management and other employees; retaining existing, or attracting new, business and operational relationships; foreseen and unforeseen dis-synergy costs, costs of restructuring transactions (including taxes) and other significant costs and expenses; and potential negative reactions from the financial markets if we fail to complete the spin-off as currently expected, within the anticipated time frame or at all. Although we intend for the spin-off to be tax-free to our stockholders for U.S. federal income tax purposes, there can be no assurance that the spin-off will so qualify. Any of these factors could have a material adverse effect on our business, financial condition and our stock price.
Read in the 10-K ↗
Eaton’s success depends in part on our ability to anticipate and offer products and services that appeal to the changing needs and preferences of our customers in the various markets we serve. Developing new products and service offerings requires high levels of innovation, and the development process is often lengthy and costly. If we are not able to anticipate, identify, develop, and market products that respond to changes in customer preferences and emerging technological and broader industry trends, including the adoption and integration of artificial intelligence, demand for our products could decline.
Similar paragraph at 1 of 81 other Industrials companies:
ROK
We are exposed to geopolitical, economic and other risks that arise from uncertainty in worldwide and regional economic conditions.
Similar paragraph at 1 of 81 other Industrials companies:
PNROur global business is sensitive to macroeconomic conditions. Macroeconomic downturns may have an adverse effect on our business, results of operations and financial condition, as well as our distributors, customers and suppliers, and on activity in many of the industries and markets we serve. Among the economic factors that may have such an effect are disruptions in financial markets; adverse changes in the availability and cost of capital; economic downturns; military conflicts; wars; terrorism; pandemics, epidemics and public health emergencies; political changes and trends; tariffs and retaliatory counter measures; monetary policies; interest rates; inflation and deflation; recessions; commodity prices; currency volatility or exchange control; and ability to expatriate earnings.
Similar paragraph at 1 of 81 other Industrials companies:
PHWe cannot predict changes in worldwide or regional macroeconomic conditions, as such conditions are highly volatile and beyond our control. In addition, our responses to mitigate the impact of these conditions, such as potential price increases, could negatively impact our market share or relationships with distributors or customers. Furthermore, if these conditions deteriorate or remain at depressed levels for extended periods, our business, results of operations and financial condition could be materially adversely affected.
Similar paragraph at 1 of 81 other Industrials companies:
PHOperating globally subjects us to risks and events beyond our control in countries where we operate.
Similar paragraph at 2 of 81 other Industrials companies:
CAT,
DEOperating globally subjects Eaton to various risks, including, but not limited to, economic and political instability, including war or armed conflict, changes in government policies, expropriation, nationalization, and other political, economic, or social developments; complex and continually changing government laws, regulations and policies; increased tariffs, trade barriers, trade agreements, and other restrictions on international trade; trade laws and trade treaties that impact our effective tax rate; supply chain disruptions, including, as a result of natural disasters, transportation disruptions, and geopolitical events; currency fluctuations, which can affect the value of our foreign currency revenues, expenses, and cash flows; inadequate intellectual property protections in foreign jurisdictions that could result in the unauthorized use or infringement of our intellectual property; adverse consumer sentiment for non-local products; and local labor market conditions. The occurrence of one or more of these events has, from time to time, impacted, and may in the future impact, our business in a variety of ways, including reducing demand for our products, increasing costs, limiting our ability to operate in certain jurisdictions, disrupting our ability to deliver products to customers on time and at competitive prices, subjecting us to fines, penalties, and sanctions, harming our competitive position, devaluation of assets, and impacting our financials.
Similar paragraph at 1 of 81 other Industrials companies:
DE
As a provider of products to the U.S. government, we are subject to certain rules, regulations, audits and investigations and enhanced compliance risks.
Similar paragraph at 3 of 81 other Industrials companies:
HON,
PH,
TDGDoing business with the U.S. government subjects us to risks such as dependence on the level of government spending and compliance with and changes in governmental acquisition regulations and other requirements. Contracts relating to the sale of products to the U.S. government parties may impose terms or provisions that are not typical in commercially negotiated transactions and, in some instances, could impose added costs on our business. We are subject to audits and investigations of our business practices and compliance with government acquisition regulations, and any findings of wrongdoing could result in fines and penalties or termination of contracts or debarment from bidding on contracts, which could negatively impact our results of operations.
Read in the 10-K ↗
New in the latest 10-Q
7 paragraphs in the 10-Q filed Nov 3, 2026 with nothing like
them in the 10-Q filed Jul 31, 2026 (at least half the words must differ; new numbers alone do not count).
Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
On September 25, 2026, Eaton signed an agreement to acquire COL Group, a leader in medium-voltage electrical distribution solutions, including SF₆-free switchgear, grid automation technologies and modular power systems. COL Group has approximately 400 employees and facilities in Turin, Milan, Bergamo, and Catania, Italy. Under the terms of the agreement, Eaton will pay € 810 million ($ 921 million, translated at the September 30, 2026 exchange rate) for COL Group. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2027. COL Group will be reported within the Electrical Global business segment.
Read in the 10-Q ↗
Concurrently with the execution of the definitive agreements with Dana on June 10, 2026 to separate the Mobility business and combine it with Dana in a RMT transaction, Mobility (USA) Corporation, a wholly owned subsidiary of Eaton, and Dana entered into a senior unsecured bridge facility (Bridge Facility) with an initial aggregate principal amount of $ 2.6 billion. Subsequently, Mobility (USA) Corporation and Dana became a party to a $ 350 million senior secured term loan A (Term A Facility) commitment and a $ 1.2 billion senior secured revolving credit facility (Revolving Credit Facility) commitment. The commitments under the Bridge Facility were reduced by $ 350 million simultaneously with the execution of the Term A Facility commitment. The aggregate proceeds of the Bridge Facility, to the extent not reduced or replaced by any additional permanent financing (the Additional Permanent Financing), the Term A Facility, and/or any Additional Permanent Financing are expected to be used by Mobility (USA) Corporation and Dana to fund the cash distribution to certain of Eaton's subsidiaries (excluding Eaton, Mobility (USA) Corporation, and each subsidiary of Mobility (USA) Corporation) prior to completion of the Transaction described in Note 2, refinance certain existing indebtedness of Dana, refinance or replace the Bridge Facility, and/or pay fees and expenses related to the Transaction. Mobility (USA) Corporation has not drawn on any of the Bridge Facility, the Term A Facility, or the Revolving Credit Facility, and amounts are not available to be drawn prior to the cash distribution or Transaction closing, as applicable.
Read in the 10-Q ↗
The ultimate outcome of these matters cannot be predicted with certainty given the complex nature of these matters. Should the ultimate outcome of any one of these matters deviate from our reasonable expectations, final resolution may have a material adverse impact on the Company's condensed consolidated financial statements.
Read in the 10-Q ↗
As previously disclosed, the Company has been pursuing the administrative appeals process with the United States Internal Revenue Service (IRS) to resolve certain adjustments that the IRS proposed for the Company’s United States subsidiaries (Eaton US) for tax years 2014-2016. The administrative appeals process has concluded without resolution. On October 27, 2026, the IRS issued Statutory Notices of Deficiency for Eaton US for tax years 2014-2016 proposing assessments of $ 290 million in additional taxes plus $ 120 million in penalties, net of agreed credits and deductions. The proposed assessments are for similar issues which are in litigation for tax years 2011-2013 and pertain to: (i) transfer pricing adjustments for products manufactured in the Company’s facilities in Puerto Rico and the Dominican Republic and sold to affiliated companies located in the U.S.; (ii) transfer pricing adjustments for products manufactured in one of the Company’s facilities in Mexico and sold to affiliated companies located in the U.S.; and (iii) adjustments challenging the interest rate on intercompany debt and amount of intercompany fees charged for financial guarantees on external debt. The Company will file its petition to the U.S. Tax Court on or before January 25, 2027, and will vigorously defend its positions through litigation, which generally takes several years for final resolution.
Read in the 10-Q ↗
The Company believes that final resolution of these matters will not have a material impact on its consolidated financial statements. The ultimate outcome of these matters cannot be predicted with certainty given the complex nature of tax controversies. Should the ultimate outcome of any one of these matters deviate from our reasonable expectations, final resolution may have a material adverse impact on the Company’s condensed consolidated financial statements. However, Eaton believes that its interpretations of tax laws and application of tax laws to its facts are correct, and that its accrual of unrecognized income tax benefits is appropriate with respect to these matters.
Read in the 10-Q ↗
On September 25, 2026, Eaton signed an agreement to acquire COL Group, a leader in medium-voltage electrical distribution solutions, including SF₆-free switchgear, grid automation technologies and modular power systems. COL Group has approximately 400 employees and facilities in Turin, Milan, Bergamo, and Catania, Italy. Under the terms of the agreement, Eaton will pay €810 million ($921 million, translated at the September 30, 2026 exchange rate) for COL Group. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2027. COL Group will be reported within the Electrical Global business segment.
Read in the 10-Q ↗
Concurrently with the execution of the definitive agreements with Dana on June 10, 2026 to separate the Mobility business and combine it with Dana in a RMT transaction, Mobility (USA) Corporation, a wholly owned subsidiary of Eaton, and Dana entered into a senior unsecured bridge facility (Bridge Facility) with an initial aggregate principal amount of $2.6 billion. Subsequently, Mobility (USA) Corporation and Dana became a party to a $350 million senior secured term loan A (Term A Facility) commitment and a $1.2 billion senior secured revolving credit facility (Revolving Credit Facility) commitment. The commitments under the Bridge Facility were reduced by $350 million simultaneously with the execution of the Term A Facility commitment. The aggregate proceeds of the Bridge Facility, to the extent not reduced or replaced by any additional permanent financing (the Additional Permanent Financing), the Term A Facility, and/or any Additional Permanent Financing are expected to be used by Mobility (USA) Corporation and Dana to fund the cash distribution to certain of Eaton's subsidiaries (excluding Eaton, Mobility (USA) Corporation, and each subsidiary of Mobility (USA) Corporation) prior to completion of the Transaction described in Note 2, refinance certain existing indebtedness of Dana, refinance or replace the Bridge Facility, and/or pay fees and expenses related to the Transaction. Mobility (USA) Corporation has not drawn on any of the Bridge Facility, the Term A Facility, or the Revolving Credit Facility, and amounts are not available to be drawn prior to the cash distribution or Transaction closing, as applicable.
Read in the 10-Q ↗
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 3, 2026 against Item 1A of the 10-K filed Feb 26, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
“Item 1A. Risk Factors” in Eaton's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 includes a discussion of the Company's risk factors. The information below updates the risks relating to the separation of the Mobility business. There have been no material changes to the other previously disclosed risk factors.
Read in the 10-Q ↗
Added10-Q 2026-11-03 vs 10-K 2026-02-26
On June 10, 2026, we entered into a definitive agreement with Dana Incorporated (Dana) pursuant to which we will separate our Mobility business and combine it with Dana in a Reverse Morris Trust transaction (the Transaction). We currently anticipate that we will close the Transaction in the first four months of 2027, but satisfying the conditions to the closing of the Transaction (including the receipt of Dana stockholder approval and receipt of required regulatory clearances) may take longer than we expect and there can be no assurance that all such conditions will be satisfied or waived.
Read it in the 10-Q at sec.gov ↗
Added10-Q 2026-11-03 vs 10-K 2026-02-26
Whether or not we complete the Transaction, our ongoing businesses may be adversely affected and we may be subject to certain risks and consequences as a result of pursuing the Transaction, including the following: the pursuit of the Transaction may be complex, costly and time-consuming and could divert management’s attention from day-to-day business concerns and divert Eaton’s resources from other strategic opportunities and operational matters; the pendency of the Transaction could have an adverse impact on our ability to attract, retain and motivate key employees and on relationships with existing and prospective customers, suppliers and other third parties; we could be subject to litigation related to the Transaction, which could result in significant costs and expenses; and we may have to delay or forgo business opportunities that may otherwise arise with respect to the Mobility business segment in favor of the Transaction under the terms of the merger agreement entered into with Dana. In addition, although we intend for the transaction to be tax-free to our stockholders for U.S. federal income tax purposes, there can be no assurance that the Transaction will so qualify. Any of these factors could have a material adverse effect on our business, financial condition, results of operations, cash flows or our stock price.
Read it in the 10-Q at sec.gov ↗
Reworded10-Q 2026-11-03 vs 10-K 2026-02-26
Any changes to the spin-off Transaction, delay or delay failure in completing it could cause us not to realize some or all of the expected benefits, or realize them on a different timeline than expected. expected, which could have a material adverse effect on our business, financial condition, results of operations, cash flows or our stock price.
Read it in the 10-Q at sec.gov ↗ · The 10-K sentence ↗
Reworded10-Q 2026-11-03 vs 10-K 2026-02-26
We may not complete the anticipated spin-off separation of our Mobility business and its merger with Dana Incorporated or complete it the transaction within the time frame timeframe we anticipate or at all; the spin-off transaction may present difficulties that could have an adverse effect on us; costs associated with the spin-off transaction may be higher than anticipated; we may not realize some or all of the expected benefits of the spin-off. transaction.
Read it in the 10-Q at sec.gov ↗ · The 10-K sentence ↗
Reworded10-Q 2026-11-03 vs 10-K 2026-02-26
Spin-offs In addition, Reverse Morris Trust transactions are complex in nature, and unanticipated developments or changes, including changes in law, the macroeconomic environment and market conditions or regulatory or political conditions may affect our ability to complete the anticipated spin-off Transaction as currently expected, within the anticipated time frame or at all.
Read it in the 10-Q at sec.gov ↗ · The 10-K sentence ↗
