Definition of 10-k filing

10-k filing. The Securities and Exchange Commission in the US requires publicly traded companies to disclose annual accounts on form 10-k. Quarterly reports are filed on on form 10-q and reports detailing specified company news on 8-k.

The SEC explains that form 10-k should provide a comprehensive review of the company's business and financial condition and include audited financial statements. The annual report on form 10-k is a different requirement from the annual report to shareholders that a company must prepare before its annual meeting to elect directors.

The SEC imposes deadlines for filing of all its reports.

Its reports are viewable through a public database.

 

10-k filing in the news

In June 2012, pressure groups interested in sustainable investment called for companies who fill in Form 10-k, which includes mandatory disclosure of risk factors, to include ethical, social and governance factors.

The disclosure of risks also featured in an FT column outlining the risks associated with rising student loan debt in the United States. ITT Educational Services (ITT-ESI) wrote in its 10-k filing "We are not able to estimate the maximum potential future payments that we could be required to make under the RSAs [risk-sharing agreements that the company managed to make with others such as the Deutsche Bank Credit Solutions Group in London]."

10-k filings were also helping investors at the beginning of March 2013 when Chesapeake Energy revealed on its form 10-k that the SEC had started a formal enquiry over its controversial remuneration plan.

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