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10-K

A 10-K is the official version of a public company’s annual report, filed with the Securities and Exchange Commission.

Expanded Definition

The 10-K is not just a duplicate of the annual report, however. The company must leave speculation behind and make only provable statements of fact. That means you often will find more financial information and expanded descriptions of the company’s operations and the risks it faces. You can get a copy of the 10-K from the company or freely online from EDGAR, a web-facing arm of the [SEC].

The 10-K is filed by U.S. registered companies.

The 10-K often includes information not found elsewhere. Oil companies often report changes in their proven reserves. Manufacturing companies will list all of their owned locations. Service companies may list the bonds held in their asset portfolio. Risks posed by pending lawsuits can be presented in detail.

Sections of the 10-K

  • Management's description of the business
  • Management's description of the risks facing the company
  • Management's summary of recent financial results of the business
  • Auditor's statement
  • Audited financial statements
  • Footnotes to the financial statement, including:

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