10-K 0000051143-26-000010 (2026-02-24) vs 10-K 0000051143-25-000015 (2025-02-25)
| Section | Compared text | Words now | Changed |
|---|
| Risk Factors | Item 1A | 5,220 |
2.7% |
| MD&A | Item 7 | 32 |
not compared |
| Legal Proceedings | Item 3 | 25 |
not compared |
| Accounting Policies | 10-K text (note not found) | 0 |
not compared |
The redline: what was cut and what was added
In each section, the paragraph that changed most, marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
Risk Factors 109 words changed in this paragraph; it is 81% similar to last year's version.
The Development and Use of AI and Generative AI, including the Company’s Increased Offerings AI Solutions and Use of AI-based AI Technologies, Could Impact the Long-Term Success of the Company and its Reputation or Give Rise to Legal or Regulatory Action: IBM is increasingly applying AI-based technologies, including generative AI, AI technologies to its services and products, to how it delivers offerings solutions to IBM clients, and to its own internal operations. Additionally, IBM is investing in and offering new products and services associated with AI development, deployment deployment, governance, and management. As stated more comprehensively and in context of several risk factors throughout this Item 1A., this increasing mix and application of AI-based technologies may impact IBM’s ongoing efforts to maintain and increase its market share and its profit margins or harm IBM’s reputation if the company does not continue to be recognized as an AI leader with strong governance processes. processes or if our AI technologies do not work as intended or produce unexpected outcomes, IBM’s ongoing efforts to maintain and increase its market share and its profit margins, its reputation, and its competitiveness could be harmed. Further, IBM’s drive for greater agility, productivity, flexibility and cost savings by continuously transforming with the use of AI may not yield intended gains in speed, quality, productivity and enablement of rapid scaling, which may impact the company’s competitiveness. scaling. The evolving global AI regulatory environment, including the enactment of the EU AI Act, and legal environment may affect the company’s business and the company’s overall results of operations. Computer hackers and others routinely attack the security of technology products, services, systems and networks using a wide variety of methods, and the increased use of generative AI technologies may introduce novel methods of attack. In the event of such actions, the company, its customers and other third parties could be exposed to liability, litigation, and regulatory or other government action, including debarment, as well as the loss of existing or potential customers, damage to brand and reputation, damage to IBM’s competitive position, and other financial loss.
Source: Item 1A, 10-K 0000051143-26-000010 vs Item 1A, 10-K 0000051143-25-000015
Every change, by type
Sentences and paragraphs of IBM's Risk Factors and MD&A, 10-K 2026-02-24 against 10-K 2025-02-25.
Each links to the text at sec.gov.
Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier
(may, could, will, not, significant, material…). A year or date rolling forward is not counted.
The full word list
adverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, would
RewordedRisk Factors
As stated more comprehensively and in context of several risk factors throughout this Item 1A., this increasing mix and application of AI-based technologies may impact IBM’s ongoing efforts to maintain and increase its market share and its profit margins or harm IBM’s reputation if the company does not continue to be recognized as an AI leader with strong governance processes. processes or if our AI technologies do not work as intended or produce unexpected outcomes, IBM’s ongoing efforts to maintain and increase its market share and its profit margins, its reputation, and its competitiveness could be harmed.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
There are numerous and evolving risks to cybersecurity and privacy, data protection, including risks originating from intentional acts of individual and groups of criminal hackers, hacktivists, state-sponsored organizations, nation states and competitors; from intentional and unintentional acts or omissions omissions, including the practices and investments, of customers, contractors, business partners, vendors, the open source community, the companies we acquire, employees and other third parties; and from errors in processes or technologies, as well as the risks associated with an increase in the number of customers, contractors, business partners, vendors, employees and other third parties working remotely.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
Tariffs and Tariffs, international trade sanctions sanctions, and export controls on goods, technologies, inputs, and raw materials resulting from these disputes could affect the company’s ability to move goods and services across borders, or could impose added costs to those activities.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
The evolving global AI regulatory environment, including the enactment of the EU AI Act, and legal environment may affect the company’s business and the company’s overall results of operations.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
IBM is increasingly applying AI-based technologies, including generative AI, AI technologies to its services and products, to how it delivers offerings solutions to IBM clients, and to its own internal operations.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
Further, IBM’s drive for greater agility, productivity, flexibility and cost savings by continuously transforming with the use of AI may not yield intended gains in speed, quality, productivity and enablement of rapid scaling, which may impact the company’s competitiveness. scaling.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
The Development and Use of AI and Generative AI, including the Company’s Increased Offerings AI Solutions and Use of AI-based AI Technologies, Could Impact the Long-Term Success of the Company and its Reputation or Give Rise to Legal or Regulatory Action:
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
Cybersecurity, Privacy, Cybersecurity and AI Data Protection Considerations Could Impact the Company’s Business:
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
As a global enterprise, the regulatory environment with regard to cybersecurity, privacy, AI cybersecurity and data protection issues is increasingly complex and will continue to impact the company’s business, including through increased risk, increased costs, and expanded or otherwise altered compliance obligations, including with respect to the increased regulatory activity around the security of critical infrastructure, IoT connected devices, customer industries (e.g., financial services) and various customer and government supply chain security programs.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
The enactment and expansion of cybersecurity, AI, cybersecurity and data protection and privacy laws, regulations and standards around the globe will continue to result in increased compliance costs, including due to an increased focus on international data transfer mechanisms and data location; increased cybersecurity requirements and reporting obligations; the lack of harmonization of such laws and regulations; the increase in associated litigation and enforcement activity by governments and private parties; the potential for damages, fines and penalties and debarment; and the potential regulation of new and emerging technologies.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
The company’s products, services, systems and networks, including cloud-based systems and systems and technologies that the company maintains on behalf of its customers, are used in critical company, customer or third-party operations, and involve the storage, processing and transmission of sensitive data, including valuable intellectual property, other proprietary or confidential data, and regulated data, and data including personal information of employees, customers and others.
Read it in 10-K 2026-02-24 at sec.gov ↗
RewordedRisk Factors
Cybersecurity attacks or other security incidents, including industry-wide incidents such as MOVEit, incidents, have or could result in, for example, one or more of the following: unauthorized access to, disclosure, modification, misuse, loss, or destruction of company, customer, or other third-party data or systems; theft or import or export of sensitive, regulated, or confidential data including personal information and intellectual property, including key innovations in AI, quantum, or other disruptive technologies; the loss of access to critical data or systems through ransomware, crypto mining, destructive attacks or other means; and business delays, service or system disruptions or denials of service.
Read it in 10-K 2026-02-24 at sec.gov ↗
Quiet changesRisk Factors
Attacks may also include social engineering and cyber extortion to induce customers, contractors, business partners, vendors, employees and other third parties to disclose information, transfer funds, or unwittingly provide unauthorized access to systems or data.
Read it in 10-K 2026-02-24 at sec.gov ↗
