Interest rates and inflation
127 of 521 companies dropped a paragraph in Risk Factors that uses one of these words:
interest rate, interest rates, inflation, inflationary.
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 |
|---|---|---|
| Refuse Systems | 2 | 2 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Communications Equipment, NEC | 1 | 1 |
| Electrical Industrial Apparatus | 1 | 1 |
| Electronic Components, NEC | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| Heavy Construction Other Than Bldg Const - Contractors | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Metal Mining | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Oil Royalty Traders | 1 | 1 |
| Paper Mills | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Services-Misc Health & Allied Services, NEC | 1 | 1 |
| Services-Miscellaneous Amusement & Recreation | 1 | 1 |
| Telephone & Telegraph Apparatus | 1 | 1 |
| Plastic Materials, Synth Resins & Nonvulcan Elastomers | 2 | 3 |
| Finance Services | 17 | 28 |
| Crude Petroleum & Natural Gas | 4 | 7 |
| Motor Vehicles & Passenger Car Bodies | 2 | 4 |
| Retail-Eating Places | 2 | 4 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 2 | 4 |
| Accident & Health Insurance | 1 | 2 |
| Aircraft Engines & Engine Parts | 1 | 2 |
| Cigarettes | 1 | 2 |
| Cutlery, Handtools & General Hardware | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 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 |
| Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) | 1 | 2 |
| Telephone Communications (No Radiotelephone) | 1 | 2 |
| Transportation Services | 1 | 2 |
| Surgical & Medical Instruments & Apparatus | 4 | 10 |
| Investment Advice | 3 | 8 |
| Services-Prepackaged Software | 7 | 19 |
| National Commercial Banks | 4 | 11 |
| Pharmaceutical Preparations | 4 | 11 |
| Insurance Agents, Brokers & Service | 2 | 6 |
| State Commercial Banks | 2 | 6 |
| Air Transportation, Scheduled | 1 | 3 |
| Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip | 1 | 3 |
| Electrical Work | 1 | 3 |
| Electronic Computers | 1 | 3 |
| Natural Gas Transmission | 1 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 1 | 3 |
| Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics | 1 | 3 |
| Water Transportation | 1 | 3 |
| Wholesale-Drugs, Proprietaries & Druggists' Sundries | 1 | 3 |
| Real Estate Investment Trusts | 8 | 27 |
| Electric Services | 4 | 15 |
| Fire, Marine & Casualty Insurance | 3 | 12 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 1 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 1 | 4 |
| Semiconductors & Related Devices | 3 | 15 |
| Beverages | 1 | 5 |
| Computer Storage Devices | 1 | 5 |
| Hospital & Medical Service Plans | 1 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 1 | 5 |
| Laboratory Analytical Instruments | 1 | 5 |
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 1 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 1 | 5 |
| Services-Business Services, NEC | 2 | 16 |
| Electric & Other Services Combined | 1 | 12 |
284 paragraphs · Accident & Health Insurance show all sectors
In general, economic and market conditions can cause variability in the following factors: demand for our products and services, short-term and long-term interest rates, inflation and deflation, equity returns, credit spreads, liquidity of investments, level of premiums and deposits, level of delinquencies and defaults, level of claims, level of surrenders and withdrawals and foreign exchange rates. The net effect of this variability can include reductions in business volumes or AUM, reductions in revenues, additional operating expenses, reductions or volatility in net income, inability to meet liquidity needs, inability to access capital and increased cost of capital.
Read in the 10-K filed Feb 19, 2025 ↗
On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA 2022”) was enacted by the U.S. government. IRA 2022 contains several provisions, including the implementation of a new corporate alternative minimum tax (“CAMT”) and an excise tax on stock repurchases by certain corporations, which became effective January 1, 2023. Uncertainty remains regarding the continued implementation of and potential adjustments to IRA 2022 and until regulations are finalized it remains uncertain as to whether IRA 2022 will result in a material effect on our business operations, profitability, or our ability to engage in certain capital expenditures.
Read in the 10-K filed Feb 19, 2025 ↗