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 · Electrical Work show all sectors
As a result of policy changes or shifting proposals by the U.S. government, there may be greater restrictions and economic disincentives on international trade. For example, the U.S. government has adopted an evolving approach to trade policy, including renegotiating or terminating certain existing bilateral or multi-lateral trade agreements. It has also imposed tariffs on certain foreign goods and raised the possibility of imposing significant, additional tariff increases or expanding the tariffs to capture other types of goods. These tariffs and other changes in U.S. trade policy have in the past and could continue to trigger retaliatory actions by affected countries, and certain foreign governments have instituted or are considering imposing retaliatory measures on certain U.S. goods. If we are unable to pass the costs of such tariffs on to our customer base or otherwise mitigate such costs, or if demand for our services decreases due to the higher cost, our results of operations could be materially adversely affected. In response to Russia’s invasion of Ukraine in 2022, the United States and other countries imposed trade sanctions against Russia and Belarus, which impacted global operations and financial performance. We, our suppliers and our customers import certain raw materials, components and other products from foreign suppliers. As such, the adoption and expansion of trade restrictions such as those adopted in response to Russia’s invasion of Ukraine, the occurrence of a trade war, or other governmental action related to tariffs or trade agreements or policies has in the past and may continue to adversely impact demand for our services, our costs, our customers, our suppliers, and the United States economy, which in turn could have an adverse effect on our business, financial condition and results of operations.
Read in the 10-K filed Feb 20, 2025 ↗