War and geopolitics
118 of 521 companies added a paragraph in Risk Factors that uses one of these words:
Ukraine, Russia, Israel, Middle East, geopolitical, war.
The paragraph is in the latest 10-K and nothing like it was in the one before.
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 |
|---|---|---|
| Aircraft Engines & Engine Parts | 2 | 2 |
| Computer Peripheral Equipment, NEC | 2 | 2 |
| Optical Instruments & Lenses | 2 | 2 |
| Air Courier Services | 1 | 1 |
| Aircraft | 1 | 1 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Canned, Fruits, Veg, Preserves, Jams & Jellies | 1 | 1 |
| Farm Machinery & Equipment | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| Grain Mill Products | 1 | 1 |
| Guided Missiles & Space Vehicles & Parts | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Food Preparations & Kindred Products | 1 | 1 |
| Motor Vehicle Parts & Accessories | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Paper Mills | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Home Furniture, Furnishings & Equipment Stores | 1 | 1 |
| Retail-Radio, Tv & Consumer Electronics Stores | 1 | 1 |
| Retail-Retail Stores, NEC | 1 | 1 |
| Services-Management Services | 1 | 1 |
| Special Industry Machinery, NEC | 1 | 1 |
| Telephone & Telegraph Apparatus | 1 | 1 |
| X-Ray Apparatus & Tubes & Related Irradiation Apparatus | 1 | 1 |
| Finance Services | 17 | 28 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 2 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 2 | 4 |
| Accident & Health Insurance | 1 | 2 |
| Converted Paper & Paperboard Prods (No Contaners/Boxes) | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Pumps & Pumping Equipment | 1 | 2 |
| Radio & Tv Broadcasting & Communications Equipment | 1 | 2 |
| Rubber & Plastics Footwear | 1 | 2 |
| Services-Medical Laboratories | 1 | 2 |
| Ship & Boat Building & Repairing | 1 | 2 |
| Transportation Services | 1 | 2 |
| Services-Business Services, NEC | 7 | 16 |
| Biological Products, (No Diagnostic Substances) | 2 | 5 |
| Computer Storage Devices | 2 | 5 |
| Laboratory Analytical Instruments | 2 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 2 | 5 |
| Investment Advice | 3 | 8 |
| Insurance Agents, Brokers & Service | 2 | 6 |
| Computer & office Equipment | 1 | 3 |
| Computer Communications Equipment | 1 | 3 |
| General Industrial Machinery & Equipment | 1 | 3 |
| Plastic Materials, Synth Resins & Nonvulcan Elastomers | 1 | 3 |
| Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics | 1 | 3 |
| Water Transportation | 1 | 3 |
| Wholesale-Drugs, Proprietaries & Druggists' Sundries | 1 | 3 |
| Pharmaceutical Preparations | 3 | 11 |
| Semiconductors & Related Devices | 4 | 15 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 1 | 4 |
| Retail-Eating Places | 1 | 4 |
| Services-Computer Processing & Data Preparation | 1 | 4 |
| Real Estate Investment Trusts | 6 | 27 |
| Services-Prepackaged Software | 4 | 19 |
| Electric Services | 3 | 15 |
| Beverages | 1 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 1 | 5 |
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 1 | 5 |
| National Commercial Banks | 2 | 11 |
| Fire, Marine & Casualty Insurance | 2 | 12 |
| Security Brokers, Dealers & Flotation Companies | 1 | 7 |
241 paragraphs · Water Transportation show all sectors
Additionally, we have been, and may continue to be, impacted by heightened regulations around customs and border control, travel bans to and from certain geographical areas, voluntary changes to our itineraries in light of geopolitical events, government policies increasing the difficulty of travel and limitations on issuing international travel visas.
Read in the 10-K filed Mar 2, 2026 ↗