AddedRisk Factors
•imposition of new and changing tariffs, which can increase supply costs, create difficulties in forecasting, and affect our business operations;
The 10-K against last year's
144 changes: 24 added, 23 removed, 93 reworded, 4 quiet changes
10-K 0000864749-26-000015 (2026-02-25) vs 10-K 0000864749-25-000090 (2025-04-25) Not compared: Legal Proceedings.
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 162 words changed in this paragraph; it is 38% similar to last year's version.
Source: Item 1A, 10-K 0000864749-26-000015 vs Item 1A, 10-K 0000864749-25-000090
Accounting Policies 140 words changed in this paragraph; it is 31% similar to last year's version.
In December 2023, July 2025, the FASB issued ASU 2023-09, Income Taxes 2025-05, Credit Losses (Topic 740): Improvements to Income Tax Disclosures. 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The ASU updates allows a practical expedient election to simplify the annual income tax disclosures expected credit loss estimation for short-term accounts receivable and contract assets by requiring (i) specific categories and greater disaggregation assuming conditions as of information in the rate reconciliation, (ii) income taxes paid disaggregated by taxing authority and jurisdiction, and (iii) disclosures balance sheet date do not change for the remaining life of pretax income (or loss) and income tax expense (or benefit). Additionally, certain existing disclosure requirements are removed. the asset. The ASU is effective for our Annual Report on Form 10-K interim and annual reports beginning in 2025 and is applied prospectively. Early 2026 on a prospective basis, with early adoption and retrospective application are permitted. We are currently evaluating the impact of do not expect material changes from adopting this ASU on our financial reporting disclosures. ASU.
Source: Item 8, Note 1 – DESCRIPTION OF BUSINESS AND ACCOUNTING POLICIES, 10-K 0000864749-26-000015 vs Item 8, Note 1 – DESCRIPTION OF BUSINESS AND ACCOUNTING POLICIES, 10-K 0000864749-25-000090
MD&A 100 words changed in this paragraph; it is 38% similar to last year's version.
In the second quarter of 2024, we completed the Ag divestiture and received $1.9 billion of cash proceeds, subject to working capital adjustments. Approximately half of the proceeds were used in 2024 to pay down debt and make a tax payment of $122.0 million related to the divestiture transaction. The total remaining proceeds were used in 2025 to repurchase stock and pay the remaining $277.4 million final tax payment for the transaction is $367.8 million, Ag divestiture, which was made during the second quarter of which $122.0 million was paid in 2024, with the remaining amount to be paid in 2025. We used a portion of the proceeds to repay $1.0 billion of term loans and expect to use the majority of the remaining proceeds after tax to repurchase stock.
Source: Item 7, 10-K 0000864749-26-000015 vs Item 7, 10-K 0000864749-25-000090
Every change, by type
Sentences and paragraphs added, removed or reworded
Sentences and paragraphs of TRMB's Risk Factors and MD&A, 10-K 2026-02-25 against 10-K 2025-04-25. Each links to the text at sec.gov.
AddedRisk Factors
Further, certain components used in our products require long lead times for ordering, and if we do not accurately forecast the need for such components, we may end up with component shortages or excess inventory.
AddedRisk Factors
•successfully implementing AI initiatives, with proper controls, to assist with achieving these objectives.
AddedRisk Factors
We also maintain a minority, non-controlling interest in Platform Science, a private company that acquired our Mobility business in February 2025, and we continue to provide products and services to Platform Science under various commercial relationships. The value of our minority equity interest in Platform Science, as well as the commercial benefits that we may realize from our commercial relationships, will depend upon the performance of Platform Science and the Mobility business, which we do not control.
AddedRisk Factors
If we fail to navigate these challenges effectively, we could suffer reputational, technical, or competitive harm and our business and results of operations could be negatively affected.
AddedRisk Factors
Many of our products use satellite signals available globally from the Russian GLONASS, China’s BeiDou, and the European Galileo GNSS Systems. Other countries have developed regional GNSS systems, such as India’s NavIC and Japan's QZSS,
AddedRisk Factors
As a global company, our business is subject to a complex and evolving set of international and U.S. laws and regulations, including export control laws, import and trade restrictions or sanctions, anti-bribery laws, anti-competition regulations, data privacy requirements, labor relations laws, and tax laws.
AddedRisk Factors
Changes in any of these areas could increase our compliance burden, raise our operating costs, or require us to alter our business practices. Violations of these diverse regulatory systems could result in financial penalties or operational disruptions and could harm our brand, our international expansion efforts, our ability to attract and retain employees, and our business, financial condition and results of operations.
Show the other 14
AddedRisk Factors
In addition, our use of AI and machine learning relies on access to large datasets, which creates novel data privacy challenges. Evolving laws and regulations governing AI may impose new restrictions on how we collect and use data to train our models, potentially limiting our ability to innovate.
AddedRisk Factors
Amendments and revisions to existing data privacy legislation, and other developments impacting data privacy and data protection may require us to modify our data processing practices and policies, increase the complexity of providing our products and services and cause us to incur substantial costs in an effort to comply. Failure to comply with these data privacy
AddedRisk Factors
and data security laws and regulations may lead to significant fines, private litigation, reputational harm, and business interruption.
AddedRisk Factors
Claims and lawsuits against us, negative regulatory outcomes, or other events that adversely affect our reputation, could harm our business
AddedMD&A
Trimble is a leading technology solutions and platform provider, enabling office professionals and field workers to connect their workflows and industry lifecycles, driving a more productive, efficient, and sustainable future. With a focus on the industries that build, maintain, and move the world, the comprehensive depth and breadth of our solutions are transforming the way the world works, making it easier for Trimble customers to focus on what matters—getting the job done right.
AddedMD&A
Our representative customers include asset owners; general and specialty contractors; architects, engineers and designers; surveyors; energy and utility companies; transportation shippers and carriers, as well as state, federal, and municipal governments. Further information on our business is presented in Part I, Item 1, “Business” of this report.
AddedMD&A
On April 1, 2024, we completed the sale and contribution of our Ag business to AGCO in exchange for $1.9 billion of cash proceeds and an equity ownership interest in PTx Trimble, a JV that was formed by Trimble and AGCO, with a fair value of $275.6 million. The fair value was based on a combination of the equity value, primarily the transaction price, and an option pricing model for a put and call option. Following the closing of the transaction, we own 15% of the JV.
AddedMD&A
Note that the fiscal year of 2025 began on January 4, 2025 compared to the fiscal year of 2024, which began on December 30, 2023. This significantly impacted overall Company year-over-year comparisons, particularly for AECO organic subscription and services, due to: (a) the recognition in the first quarter of 2024 for January 1 annual software term license renewals (“January 1 software renewals”), and (b) the recognition of an additional week of subscription and services revenue in the fourth quarter of 2024, resulting from the 53-week year. For the total Company, the organic impact of the software renewals and additional week in 2024 was an approximate 2% negative impact on revenue growth for 2025.
AddedMD&A
Organic product revenue slightly decreased due to lower demand in surveying and positioning products, partially offset by strong end-user demand for Civil Construction solutions.
AddedMD&A
Non-operating expense, net increased primarily due to the Ag divestiture gain in the prior year.
AddedMD&A
The OBBBA, signed into law on July 4, 2025, includes changes to U.S. federal tax regulations. We have accounted for its tax implications during 2025 based on our current interpretation of the legislation, and the impact to our 2025 tax rate is immaterial. The Company continues to evaluate the impact of the OBBBA and currently believes it will not have a material impact on our future effective income tax rate.
AddedMD&A
Organic revenue increased primarily due to strong end-user demand and competitive wins for Civil Construction solutions. The increase was partially offset by lower demand in Surveying.
AddedMD&A
Organic revenue increased primarily driven by MAPS and Transporeon subscription revenue growth, partially offset by the impact from the prior year’s additional week. The impact of the additional week was an approximate 1% negative impact on segment revenue growth for 2025.
AddedMD&A
The recently enacted OBBBA permanently repeals the domestic R&D capitalization requirement. As a result, we expect cash tax reductions of approximately $53 million in 2025 and approximately $53 million in 2026.