Privacy and data rules
173 of 521 companies added a paragraph in Risk Factors that uses one of these words:
privacy, GDPR, personal data, personal information.
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 |
|---|---|---|
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 5 | 5 |
| Computer Peripheral Equipment, NEC | 2 | 2 |
| Instruments For Meas & Testing of Electricity & Elec Signals | 2 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 2 | 2 |
| Rubber & Plastics Footwear | 2 | 2 |
| Air Courier Services | 1 | 1 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Bottled & Canned Soft Drinks & Carbonated Waters | 1 | 1 |
| Electronic Components & Accessories | 1 | 1 |
| Electronic Connectors | 1 | 1 |
| Engines & Turbines | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| General Industrial Machinery & Equipment, NEC | 1 | 1 |
| Grain Mill Products | 1 | 1 |
| Leather & Leather Products | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Food Preparations & Kindred Products | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Paints, Varnishes, Lacquers, Enamels & Allied Prods | 1 | 1 |
| Paper Mills | 1 | 1 |
| Radiotelephone Communications | 1 | 1 |
| Real Estate | 1 | 1 |
| Retail-Drug Stores and Proprietary Stores | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Radio, Tv & Consumer Electronics Stores | 1 | 1 |
| Retail-Retail Stores, NEC | 1 | 1 |
| Rolling Drawing & Extruding of Nonferrous Metals | 1 | 1 |
| Services-Advertising Agencies | 1 | 1 |
| Services-Detective, Guard & Armored Car Services | 1 | 1 |
| Services-Equipment Rental & Leasing, NEC | 1 | 1 |
| Services-Miscellaneous Amusement & Recreation | 1 | 1 |
| Services-Video Tape Rental | 1 | 1 |
| Special Industry Machinery, NEC | 1 | 1 |
| Water Supply | 1 | 1 |
| Wholesale-Medical, Dental & Hospital Equipment & Supplies | 1 | 1 |
| Computer Communications Equipment | 2 | 3 |
| Electronic Computers | 2 | 3 |
| Measuring & Controlling Devices, NEC | 2 | 3 |
| Retail-Auto Dealers & Gasoline Stations | 2 | 3 |
| Services-Commercial Physical & Biological Research | 2 | 3 |
| Services-Computer Integrated Systems Design | 2 | 3 |
| Services-Consumer Credit Reporting, Collection Agencies | 2 | 3 |
| Services-Prepackaged Software | 12 | 19 |
| Finance Services | 17 | 28 |
| Biological Products, (No Diagnostic Substances) | 3 | 5 |
| Computer Storage Devices | 3 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 3 | 5 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 2 | 4 |
| Retail-Eating Places | 2 | 4 |
| Services-Computer Processing & Data Preparation | 2 | 4 |
| Accident & Health Insurance | 1 | 2 |
| Cigarettes | 1 | 2 |
| Cutlery, Handtools & General Hardware | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 1 | 2 |
| Paperboard Containers & Boxes | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Radio & Tv Broadcasting & Communications Equipment | 1 | 2 |
| Retail-Auto & Home Supply Stores | 1 | 2 |
| Services-Medical Laboratories | 1 | 2 |
| Services-To Dwellings & Other Buildings | 1 | 2 |
| Telephone Communications (No Radiotelephone) | 1 | 2 |
| Transportation Services | 1 | 2 |
| Trucking (No Local) | 1 | 2 |
| Wholesale-Groceries & Related Products | 1 | 2 |
| Services-Computer Programming, Data Processing, Etc. | 2 | 5 |
| Services-Business Services, NEC | 6 | 16 |
| Investment Advice | 3 | 8 |
| National Commercial Banks | 4 | 11 |
| Real Estate Investment Trusts | 9 | 27 |
| Insurance Agents, Brokers & Service | 2 | 6 |
| Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip | 1 | 3 |
| Computer & office Equipment | 1 | 3 |
| Life Insurance | 1 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 1 | 3 |
| Retail-Building Materials, Hardware, Garden Supply | 1 | 3 |
| Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics | 1 | 3 |
| Surgical & Medical Instruments & Apparatus | 3 | 10 |
| Security Brokers, Dealers & Flotation Companies | 2 | 7 |
| Semiconductors & Related Devices | 4 | 15 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 1 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 1 | 4 |
| Hospital & Medical Service Plans | 1 | 5 |
| Hotels & Motels | 1 | 5 |
| Laboratory Analytical Instruments | 1 | 5 |
| Retail-Variety Stores | 1 | 5 |
| Pharmaceutical Preparations | 2 | 11 |
| Fire, Marine & Casualty Insurance | 2 | 12 |
| Petroleum Refining | 1 | 6 |
| State Commercial Banks | 1 | 6 |
| Crude Petroleum & Natural Gas | 1 | 7 |
| Electric Services | 2 | 15 |
432 paragraphs · Industrial Instruments For Measurement, Display, and Control show all sectors
In addition, a significant number of countries where we operate have enacted privacy or data protection laws, rules and regulations, many of which have extraterritorial scope, with significant penalties for non-compliance. For example, failure to comply with the requirements of the GDPR and the applicable national data protection laws of the EU member states and other states subject to the GDPR may result in fines of up to €20 million or up to 4% of total worldwide annual turnover for the preceding financial year, whichever is higher, and other administrative penalties. Please see “Item 1. Business—Regulatory Matters” for additional information. Data privacy regulation and enforcement continues to evolve, with recent, increased focus on topics such as the use of AI, biometrics and surveillance technologies.
Read in the 10-K filed Feb 24, 2026 ↗
We continue to evaluate and, where appropriate, integrate AI technologies into our product offerings and internal operations to enhance innovation, efficiency, and customer value. While AI presents opportunities for advancement, its adoption also introduces a range of risks that could adversely impact our business, financial condition, and results of operations. These risks include, but are not limited to, competitive disadvantages if peers more effectively leverage AI to accelerate innovation, product development, or operational performance. The use of AI may also expose us to legal, regulatory, and reputational risks, particularly in jurisdictions with evolving or inconsistent regulatory frameworks governing AI, data privacy, and cybersecurity. Additionally, the deployment of AI tools, whether by us or by customers using our AI-enabled solutions may result in unintended consequences such as biased or inaccurate outputs, loss or compromise of confidential information or intellectual property, and challenges in asserting or defending intellectual property rights. These risks may be amplified by increasing regulatory scrutiny and potential compliance obligations, which could result in increased costs or limitations on our ability to deploy AI technologies. There can be no assurance that our use of AI will yield the anticipated benefits or that we will be able to effectively mitigate the associated risks.
Read in the 10-K filed Dec 17, 2025 ↗
We rely on third-party AI platforms and services, including proprietary and open-source large language models and other AI technologies provided by companies such as OpenAI, Anthropic, Google, and Microsoft. These providers may change their terms of service, increase pricing, discontinue services, experience outages, decline to provide certain indemnities, or make changes to their AI models that adversely affect our products or operations. As AI becomes more central to our offerings, our exposure to pricing changes from these providers increases, and we may not be able to pass such cost increases on to our customers. We have limited control over these third-party AI systems and their updates, and any disruption in access to these services could have a significant impact on our business. The use of AI applications may result in cybersecurity incidents that implicate the personal data of end users of such applications. Any such cybersecurity incidents related to our use of AI applications could adversely affect our reputation and results of operations. AI also presents emerging ethical issues, and if our use of AI becomes controversial, we may experience brand, reputational, or competitive harm, or legal liability.
Read in the 10-K filed Feb 24, 2026 ↗