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Industrials · Electronic Components · NYSE

HUBBHubbell Incorporated

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The 10-K against last year's

107 changes: 14 added, 7 removed, 85 reworded, 1 quiet changes

10-K Feb 12, 2026 vs Feb 13, 2025
Risk FactorsRedline ↓
8.2%
of the text changed · 5,617 words now
20.6%
of the text changed · 12,415 words now
Legal ProceedingsRedline ↓
0.0%
of the text changed · 320 words now
Accounting PoliciesRedline ↓
11.4%
of the text changed · 5,329 words now

10-K 0001628280-26-007500 (2026-02-12) vs 10-K 0001628280-25-005311 (2025-02-13)

The redline

The paragraph that changed most in each section

Marked against last year's 10-K: cut words struck through, new words highlighted and underlined.

Risk Factors 178 words changed in this paragraph; it is 58% similar to last year's version.
We are subject to income taxes as well as non-income based taxes, in both the United States and numerous foreign jurisdictions. The determination of the Company’s worldwide provision for income taxes and other tax liabilities requires judgment and is based on diverse legislative and regulatory structures that exist in the various jurisdictions where the company Company operates. As a result of the The U.S. federal elections, there may also be changes in tax policy pursued by the new administration, Congress and the Treasury Department regularly consider modifications to corporate taxation, including adjustments to tax rates, deductive limitations, cross-border tax provisions, and administrative guidance. The nature and outcome of those potential changes is uncertain at this time. are uncertain. Although management believes its estimates are reasonable, the ultimate tax outcome may differ from the amounts recorded in the Company’s financial statements and may materially impact the Company’s financial results for the period when such determination is made. We are subject to ongoing tax audits in various jurisdictions. Tax authorities in many jurisdictions continue to intensify enforcement efforts and adopt new rules intended to counter perceived tax avoidance practices by multinational companies. These responses may disagree with certain positions we have taken include changes to transfer‑pricing standards, withholding tax rules, and assess additional taxes. We regularly assess the likely outcomes of these audits in order anti‑base‑erosion measures. Resulting disputes, assessments, or requirements to determine the appropriateness of revise our global tax arrangements could increase our tax provisions. However, there can be no assurance that obligations or compliance costs. While we will accurately predict the estimate tax provisions based on our assessment of ongoing audits, actual outcomes of these audits, may differ and the future outcomes of these audits could adversely affect impact our results of operations, results, financial condition and condition, or cash flows.

Source: Item 1A, 10-K 0001628280-26-007500 vs Item 1A, 10-K 0001628280-25-005311

MD&A 169 words changed in this paragraph; it is 34% similar to last year's version.
In connection with the December 2023 acquisition of Systems Control, On September 29, 2025, the Company entered into a Term Loan Agreement (the “Term "2025 Term Loan Agreement”) Agreement") with a syndicate of lenders under which and JPMorgan Chase Bank, N.A., as administrative agent. On October 1, 2025, the Company borrowed $600 million under the 2025 Term Loan Agreement (the "2025 Term Loan") on an unsecured basis. Borrowings under basis to finance a portion of the DMC Power purchase price. The 2025 Term Loan was made in a single borrowing and will be due and payable on September 29, 2028. The 2025 Term Loan bears interest based on the Term SOFR Rate (as defined in the 2025 Term Loan Agreement bore interest generally at either the adjusted term SOFR rate Agreement), plus an applicable margin (determined by a ratings interest addition based grid) or on Hubbell's credit ratings. The interest rate on the alternative base rate. The outstanding principal amount under the 2025 Term Loan Agreement as of December 31, 2025 was due and payable 4.99%. Hubbell also paid the lenders certain customary fees in full at maturity in December 2026. During connection with the fourth quarter of 2024, the Company repaid the remainder of the 2025 Term Loan and no balance was outstanding at December 31, 2024. Agreement.

Source: Item 7, 10-K 0001628280-26-007500 vs Item 7, 10-K 0001628280-25-005311

Accounting Policies 33 words changed in this paragraph; it is 81% similar to last year's version.
Property, plant, and equipment values are stated at cost less accumulated depreciation. depreciation and are depreciated over their estimated useful lives. Maintenance and repair expenditures that do not significantly increase the life of an asset are charged to expense when incurred. Property, plant, and equipment placed in service prior to January 1, 1999 are depreciated over their estimated useful lives, principally, using accelerated methods. Leasehold improvements are amortized over the shorter of their economic lives or the lease term. Gains and losses arising on the disposal of property, plant and equipment are included in Operating income in the Consolidated Statement of Income.

Source: Item 8, Note 1 – Significant Accounting Policies, 10-K 0001628280-26-007500 vs Item 8, Note 1 – Significant Accounting Policies, 10-K 0001628280-25-005311

Every change, by type

Sentences and paragraphs added, removed or reworded

Sentences and paragraphs of HUBB's Risk Factors and MD&A, 10-K 2026-02-12 against 10-K 2025-02-13. Each links to the text at sec.gov.

RemovedRisk Factors
Government agencies and the Organisation for Economic Co-operation and Development (“OECD”) have focused on issues related to the taxation of multinational corporations. One example is in the area of “base erosion and profit shifting,” for which the OECD has released several components of its comprehensive plan that have been adopted and expanded by many taxing authorities to address perceived tax abuse and inconsistencies between tax jurisdictions. As a result, the tax laws and policies in countries in which we do business could change on a prospective or retroactive basis, and any such changes, including any changes in the current U.S. income tax rates, may materially impact the Company’s business and financial statements.

Read it in 10-K 2025-02-13 at sec.gov ↗

RemovedRisk Factors
Because tax laws and regulations are subject to interpretation, uncertainty, and change, tax payments may ultimately differ from amounts currently recorded by the Company.

Read it in 10-K 2025-02-13 at sec.gov ↗

RemovedMD&A
Productivity programs affect virtually all functional areas within the Company by reducing or eliminating waste and improving processes. We continue to expand our efforts related to global product and component sourcing and supplier cost reduction programs. Value engineering efforts, product transfers and the use of lean process improvement techniques are expected to continue to increase manufacturing efficiency. In addition, we continue to build upon the benefits of our enterprise resource planning system across all functions.

Read it in 10-K 2025-02-13 at sec.gov ↗

RemovedMD&A
On February 1, 2022, the Company completed the sale of the Commercial and Industrial Lighting business (the “C&I Lighting business”) to GE Current, a Daintree Company. The disposal of the C&I Lighting business met the criteria set forth in ASC 205-20 to be presented as a discontinued operation. The C&I Lighting businesses’ results of operations and the related cash flows have been reclassified to income from discontinued operations in the Consolidated Statements of Income and cash flows from discontinued operations in the Consolidated Statement of Cash Flows, respectively, for all periods presented. For additional information regarding this transaction and its effect on our financial reporting, see Note 2 – Discontinued Operations, in the accompanying Consolidated Financial Statements, which note is incorporated herein by reference.

Read it in 10-K 2025-02-13 at sec.gov ↗

RemovedMD&A
For the Year Ending December 31, 2024 % of Net sales 2023 % of Net sales Net sales $ 5,628.5 $ 5,372.9 Cost of goods sold 3,724.4 66.2% 3,484.8 64.9% Gross profit 1,904.1 33.8% 1,888.1 35.1% Selling & administrative expenses 812.5 14.4% 849.6 15.8% Operating income 1,091.6 19.4% 1,038.5 19.3% Net income from continuing operations 783.5 13.9% 766.0 14.2% Less: Net income from continuing operations attributable to noncontrolling interest (5.7) (0.1)% (6.2) (0.1)% Net Income From Continuing Operations Attributable to Hubbell Incorporated 777.8 13.8% 759.8 14.1% Income from discontinued operations, net of tax — —% — —% Net income attributable to Hubbell Incorporated 777.8 13.8% 759.8 14.1% Less: Earnings allocated to participating securities (1.5) (1.8) Net income available to common shareholders $ 776.3 $ 758.0 Average number of diluted shares outstanding 54.0 54.0 DILUTED EARNINGS PER SHARE - CONTINUING OPERATIONS $ 14.37 $ 14.05 DILUTED EARNINGS PER SHARE - DISCONTINUED OPERATIONS $ — $ —

Read it in 10-K 2025-02-13 at sec.gov ↗

RemovedMD&A
•Regulatory issues, changes in tax laws and policies, including changes in current U.S. income tax rates multijurisdictional implementation of the OECD’s comprehensive base erosion and profit shifting plan, or changes in geographic profit mix affecting tax rates and availability of tax incentives.

Read it in 10-K 2025-02-13 at sec.gov ↗

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