7 new paragraphs in the 10-K, 14 new in the latest 10-Q
Paragraphs with nothing like them in last year's 10-K
7 paragraphs in Risk Factors of the 10-K filed Feb 12, 2026 with nothing like them in the 10-K filed Feb 14, 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 74 Technology 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.
Our business with U.S. government customers depends, in part, upon our customers’ continued expenditures on programs in areas we support such as law enforcement and national security. These expenditures have not remained constant over time, have been and in the future may be reduced in certain periods, and have been and in the future may be affected by efforts to reduce costs generally. Our business with U.S. government customers has been negatively impacted in the past, and may continue to be negatively impacted in the future, by certain of the following factors, among others:
•Government budgetary constraints and decreases or changes in available funding;
Similar paragraph at 1 of 74 other Technology companies: ORCL•Budget uncertainty, government shutdowns and other potential delays or changes in appropriations or other funding authorization processes;
•Reductions in overall defense spending or a shift in expenditures away from the government customers we support;
•The political environment, changes in national and international priorities and macroeconomic conditions; and
•Changes in public perception of the accuracy of our technology and the appropriate use of our technology by government customers.
Read in the 10-K ↗
While the 2025 enactment of the One Big Beautiful Bill Act (“OBBBA”) introduced several taxpayer-favorable provisions, such as the restoration of immediate expensing for qualified domestic research and experimental expenditures, it has also added complexity to the U.S. tax code. For example, the interplay between new domestic incentives and modified international provisions, without future comprehensive administrative guidance, creates complexity with respect to our compliance with the OBBBA. Any future guidance or interpretations of the OBBBA, or any actual or perceived noncompliance with the OBBBA by us, could result in an increase to our U.S. tax liability and a resulting adverse impact on our future operating results.
Read in the 10-K ↗
Paragraphs in the 10-Q filed Nov 4, 2026 that were not in the one before
14 paragraphs in the 10-Q filed Nov 4, 2026 with nothing like them in the 10-Q filed Aug 5, 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
The Company recognizes revenue in a pattern that reflects the transfer of control of promised goods or services to customers in the amount of consideration to which the Company expects to be entitled in exchange for goods or services.
Read in the 10-Q ↗
For the Products and Systems Integration segment, revenue was recognized at a point in time for 79 % and 71 % of net sales for the three months ended October 3, 2026 and September 27, 2025, respectively. For the nine months ended October 3, 2026 and September 27, 2025, revenue was recognized at a point in time for 77 % and 73 % of net sales, respectively. For all periods presented, the remaining segment net sales were recognized over time.
Read in the 10-Q ↗
For the Software and Services segment, revenue was recognized over time for 80 % and 82 % of net sales for each of the three and nine months ended October 3, 2026 and September 27, 2025, respectively. For all periods presented, the remaining segment net sales were recognized at a point in time.
Read in the 10-Q ↗
Three Months Ended Nine Months Ended October 3, 2026 September 27, 2025 October 3, 2026 September 27, 2025 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Foreign Currency Translation Adjustments: Balance at beginning of period $ (480) $ (428) $ (445) $ (546) Other comprehensive income (loss) before reclassification adjustment 6 (11) (31) 104 Reclassification adjustment into Net earnings (1) (2) $ (3) $ (4) Tax benefit (expense) (1) — 3 5 Other comprehensive income (loss), net of tax 4 (13) (31) 105 Balance at end of period $ (476) $ (441) $ (476) $ (441) Derivative Instruments: Balance at beginning of period $ (6) $ (7) $ (6) $ (7) Other comprehensive income before reclassification adjustment 3 — 3 — Other comprehensive income before reclassification adjustment, net of tax 3 — 3 — Other comprehensive income, net of tax 3 — $ 3 $ — Balance at end of period $ (3) $ (7) $ (3) $ (7) Defined Benefit Plans: Balance at beginning of period $ (1,939) $ (1,977) $ (1,969) $ (1,986) Other comprehensive income (loss) before reclassification adjustment — — 10 (8) Tax expense (benefit) — — (3) 2 Other comprehensive income (loss) before reclassification adjustment, net of tax — — 7 (6) Reclassification adjustment - Actuarial net losses into Other income (Note 8) 15 10 44 28 Reclassification adjustment - Prior service benefits into Other income (Note 8) (1) — — — Tax expense (3) (2) (10) (5) Reclassification adjustments into Net earnings, net of tax 11 8 34 23 Other comprehensive income, net of tax 11 8 41 17 Balance at end of period $ (1,928) $ (1,969) $ (1,928) $ (1,969) Total Accumulated other comprehensive loss $ (2,407) $ (2,417) $ (2,407) $ (2,417)
Read in the 10-Q ↗
During the quarter ended October 3, 2026, the Company entered into a limited partnership agreement with a private equity fund, establishing an unconditional total capital commitment of $100 million. Capital contributions are callable at the discretion of the general partner over the fund’s commitment period ending in February 2031. As of October 3, 2026, no capital contributions have been drawn, the remaining unfunded capital commitment was $100 million and no asset or liability has been recorded on the Company's Condensed Consolidated Balance Sheets.
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Show the other 9
This business is part of both the Products and Systems Integration segment and the Software and Services segment. The purchase accounting was completed as of the third quarter of 2026.
Read in the 10-Q ↗
• Expanded operating earnings of $67 million driven by an increase in net sales and gross profit, inclusive of higher non-cash charges of $445 million which included contingent earnout charges related to the Silvus acquisition, depreciation and intangible asset amortization expense and share-based compensation expense; partially offset by
Read in the 10-Q ↗
• An increase in cash paid for income and withholding taxes, net of refunds, of $61 million, primarily driven by higher cash tax payments on our U.S. federal income tax return;
Read in the 10-Q ↗
• An increase of $164 million in cash paid for interest driven by elevated levels of outstanding debt issued in connection with the funding of the Silvus acquisition in 2025;
Read in the 10-Q ↗
• An increase of $50 million in cash paid for employee contributions into the employee stock purchase plan due to timing of the settlement window; and
Read in the 10-Q ↗
• An increase in cash used for working capital, primarily due to higher investments in inventory of $396 million to provide operational flexibility to respond to customer demand and mitigate production risks associated with supply chain volatility, partially offset by improved collections of trade receivables and favorable billing terms across our contract assets and contract liabilities, which contributed $320 million year over year.
Read in the 10-Q ↗
Share sales and buybacks
On August 28, 2026, the Company issued 18,872 shares of common stock in connection with the acquisition of DeepNeuronic to certain former shareholders of DeepNeuronic. The stock was issued for an aggregate grant date fair value of $9 million that will be expensed over an average service period of three years.
Read in the 10-Q ↗
On August 20, 2026, the Company issued 168,674 shares of common stock in connection with the acquisition of D-Fend to certain former shareholders of D-Fend. The stock was issued for an aggregate grant date fair value of $76 million that will be expensed over an average service period of three years.
Read in the 10-Q ↗
The foregoing transactions did not involve any underwriters, any underwriting discounts or commissions, or any public offerings. The shares with respect to the transactions were issued in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, in privately negotiated transactions not involving any public offerings or solicitations.
Read in the 10-Q ↗
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 4, 2026 against Item 1A of the 10-K filed Feb 12, 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:
Read in the 10-Q ↗
There have been no material changes to the risk factors previously disclosed in the Form 10-K.
1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.