War and geopolitics
109 of 521 companies dropped a paragraph in Risk Factors that uses one of these words:
Ukraine, Russia, Israel, Middle East, geopolitical, war.
The paragraph was in the earlier 10-K and nothing like it is in the latest.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Optical Instruments & Lenses | 2 | 2 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Canned, Fruits, Veg, Preserves, Jams & Jellies | 1 | 1 |
| Electrical Industrial Apparatus | 1 | 1 |
| Electronic Components, NEC | 1 | 1 |
| Farm Machinery & Equipment | 1 | 1 |
| Food and Kindred Products | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Miscellaneous Food Preparations & Kindred Products | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Oil Royalty Traders | 1 | 1 |
| Paper Mills | 1 | 1 |
| Real Estate | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Retail Stores, NEC | 1 | 1 |
| Services-Misc Health & Allied Services, NEC | 1 | 1 |
| Special Industry Machinery, NEC | 1 | 1 |
| Sugar & Confectionery Products | 1 | 1 |
| Telephone & Telegraph Apparatus | 1 | 1 |
| X-Ray Apparatus & Tubes & Related Irradiation Apparatus | 1 | 1 |
| Computer Communications Equipment | 2 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 2 | 3 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 2 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 2 | 4 |
| Aircraft Engines & Engine Parts | 1 | 2 |
| Computer Peripheral Equipment, NEC | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Instruments For Meas & Testing of Electricity & Elec Signals | 1 | 2 |
| Paperboard Containers & Boxes | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Pumps & Pumping Equipment | 1 | 2 |
| Rubber & Plastics Footwear | 1 | 2 |
| Services-Medical Laboratories | 1 | 2 |
| Telephone Communications (No Radiotelephone) | 1 | 2 |
| National Commercial Banks | 5 | 11 |
| Computer Storage Devices | 2 | 5 |
| Hospital & Medical Service Plans | 2 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 2 | 5 |
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 2 | 5 |
| Finance Services | 11 | 28 |
| Air Transportation, Scheduled | 1 | 3 |
| Electrical Work | 1 | 3 |
| Electronic Computers | 1 | 3 |
| Measuring & Controlling Devices, NEC | 1 | 3 |
| Natural Gas Transmission | 1 | 3 |
| Retail-Auto Dealers & Gasoline Stations | 1 | 3 |
| Services-Computer Integrated Systems Design | 1 | 3 |
| Services-Consumer Credit Reporting, Collection Agencies | 1 | 3 |
| Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics | 1 | 3 |
| Surgical & Medical Instruments & Apparatus | 3 | 10 |
| Crude Petroleum & Natural Gas | 2 | 7 |
| Pharmaceutical Preparations | 3 | 11 |
| Semiconductors & Related Devices | 4 | 15 |
| Investment Advice | 2 | 8 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 1 | 4 |
| Electric Services | 3 | 15 |
| Biological Products, (No Diagnostic Substances) | 1 | 5 |
| Laboratory Analytical Instruments | 1 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 1 | 5 |
| Services-Business Services, NEC | 3 | 16 |
| Electric & Other Services Combined | 2 | 12 |
| Insurance Agents, Brokers & Service | 1 | 6 |
| State Commercial Banks | 1 | 6 |
| Real Estate Investment Trusts | 4 | 27 |
| Security Brokers, Dealers & Flotation Companies | 1 | 7 |
| Services-Prepackaged Software | 2 | 19 |
263 paragraphs · Computer Peripheral Equipment, NEC show all sectors
In addition, various countries regulate the import of certain encryption technology, including through import permit and license requirements, and have enacted laws that could limit our ability to distribute our products or could limit our end-customers’ ability to implement our products in those countries. Changes in our products or changes in export and import regulations may create delays in the introduction of our products into international markets, prevent our end-customers with international operations from deploying our products globally or, in some cases, prevent or delay the export or import of our products to certain countries, governments, or persons altogether. Any change in export or import regulations, economic sanctions, such as the Sanctions on Russia, or related legislation, shift in the enforcement or scope of existing regulations, or change in the countries, governments, persons, or technologies targeted by such regulations could result in decreased use of our products by, or in our decreased ability to export or sell our products to, existing or potential end-customers with international operations. Any decreased use of our products or limitation on our ability to export to or sell our products in international markets would likely adversely affect our business, financial condition, and operating results.
Read in the 10-K filed Aug 29, 2025 ↗
International trade laws and regulations continuously evolve to address technological developments and changes in geopolitical conditions. New regulations or other governmental restrictions that may result from these circumstances could inhibit our ability to transact with foreign suppliers, customers, or other business partners. Monitoring and responding to these developments may require significant resources, and failure to comply with resulting regulations and restrictions may have an adverse impact on our business or results of operation.
Read in the 10-K filed Aug 29, 2025 ↗