What the 10-K filed 2026-02-18 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 2025-02-14.
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.
No specific sentence about this in the 10-K.
Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
“We accrue for legal proceedings when losses become probable and reasonably estimable.”
Read it in the 10-K ↗
“As of the end of each applicable reporting period, we review each of our legal proceedings and, where it is probable that a liability has been incurred, we accrue for all probable and reasonably estimable losses.”
Read it in the 10-K ↗
“Legal Proceedings over Certain Environmental Matters Involving Governmental Authorities with Possible Sanctions of $1,000,000 or More”
Read it in the 10-K ↗
“We accrue for costs associated with environmental remediation obligations when such costs are probable and reasonably estimable in accordance with accounting for loss contingencies.”
Read it in the 10-K ↗
“In general, we determine whether to disclose or accrue for loss contingencies based on an assessment of whether the risk of loss is remote, reasonably possible or probable, and whether it can be reasonably estimated.”
Read it in the 10-K ↗
Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
No specific sentence about this in the 10-K.
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“The agreement governing our Uncommitted Credit Facility requires us to comply with certain covenants.”
Read it in the 10-K ↗
“The Credit Facility agreement requires us to comply with financial and other covenants.”
Read it in the 10-K ↗
“The Credit Facility requires us to comply with financial and other covenants.”
Read it in the 10-K ↗
“To the extent we are not in compliance with these covenants, we cannot pay dividends or repurchase common stock.”
Read it in the 10-K ↗
“Compliance with covenants also is a condition for any incremental borrowings under the Credit Facility, and failure to meet these covenants would enable the lenders to require repayment of any outstanding loans (which would adversely affect our liquidity).”
Read it in the 10-K ↗
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
“As of December 31, 2025, such purchase commitments, which do not qualify for recognition on our Consolidated Balance Sheets, amount to $944 million, of which $196 million was short-term.”
Read it 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 RSG 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/RSG/export.csv") into a cell.