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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products, (iii) copper wire and optical fiber and (iv) plastic materials."}]},"relatedCompanies":[{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products, (iii) copper wire and optical fiber and (iv) plastic materials."}]}},{"ticker":"MRVL","cik":"0001835632","rowId":"","companyName":"Marvell Technology, Inc.","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"LPO modules enabled by our chipsets provide higher bandwidth and greater reach than copper cable interconnects, with optimal latency and power consumption."},"evidence":[{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"LPO modules enabled by our chipsets provide higher bandwidth and greater reach than copper cable interconnects, with optimal latency and power consumption."},{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"We are also subject to risk from increasing or fluctuating market prices of certain commodity raw materials, including gold and copper, which are incorporated into our end products or used by our suppliers to manufacture our end products."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"• A substantial or extended decline in gold, copper, silver, lead or zinc prices would have a material adverse effect on us."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Copper Decommissioning While building the network of the future, we are actively working to exit our legacy copper network operations across the large majority of our wireline footprint."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Copper Decommissioning While building the network of the future, we are actively working to exit our legacy copper network operations across the large majority of our wireline footprint."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We offer legacy voice and other transitional services comprised of copper-based voice and data, Virtual Private Networks (VPN), wholesale, outsourcing and IP sales."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"Allegations related to lead sheathed copper cables in our copper network infrastructure could expose us to regulatory scrutiny, litigation, penalties, removal and compliance costs, operational impact or reputational damage."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"Allegations related to lead sheathed copper cables in our copper network infrastructure could expose us to regulatory scrutiny, litigation, penalties, removal and compliance costs, operational impact or reputational damage."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"Copper No. 1: Managed Money net share increased","description":"Net positioning increased by 17,416 contracts. 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Coffee C is a benchmark contract; blends, grades, and sourcing arrangements may differ.","reviewQuestion":"Which coffee grades and sourcing regions are relevant, and how are procurement prices hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"We generate most of our coffee revenues through Costa."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"We generate most of our coffee revenues through Costa."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Costa purchases Rainforest Alliance Certified and other certified green coffee through multiple suppliers, enabling us to source from alternative suppliers as changing weather patterns impact yields in some geographies."}]},"relatedCompanies":[{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Coffee C","reason":"The SEC annual filing contains a business or financial-risk passage mentioning coffee. Coffee C is a benchmark contract; blends, grades, and sourcing arrangements may differ.","reviewQuestion":"Which coffee grades and sourcing regions are relevant, and how are procurement prices hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"We generate most of our coffee revenues through Costa."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"We generate most of our coffee revenues through Costa."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Costa purchases Rainforest Alliance Certified and other certified green coffee through multiple suppliers, enabling us to source from alternative suppliers as changing weather patterns impact yields in some geographies."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"Coffee C","reason":"The SEC annual filing contains a business or financial-risk passage mentioning coffee. Coffee C is a benchmark contract; blends, grades, and sourcing arrangements may differ.","reviewQuestion":"Which coffee grades and sourcing regions are relevant, and how are procurement prices hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"The Company completed the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"The Company completed the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"The Company completed a series of asset divestments in recent years, including the sale of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"Coffee C: Managed Money net share decreased","description":"Net positioning decreased by 4,855 contracts. Reported longs changed by -2,091 and reported shorts by +2,764 contracts. Net share of total open interest changed by -3.40 percentage points. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]},"relatedCompanies":[{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company has also issued foreign currency denominated long-term debt as partial hedges of its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro, Japanese yen and Swiss franc."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The impact to income from realized activity for the year ended December 31, 2025 was primarily driven by realized gains from our Mexican peso and Japanese yen-denominated hedges, partially offset by realized losses from our South Korean won and Chinese yuan-denominated hedges."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Currently, we hedge certain anticipated foreign currency cash flows, primarily anticipated revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, significant amounts of our operating expenses and capital expenditures, and certain assets and liabilities, are incurred in or exposed to other currencies, primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, we had foreign currency contracts denominated principally in British pound sterling, Canadian dollar, euro and Japanese yen, with an aggregate notional amount of $1.4 billion."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"In addition, our purchases of flash-based memory from Flash Ventures and our investment in Flash Ventures are denominated in Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"In addition, our purchases of flash-based memory from Flash Ventures and our investment in Flash Ventures are denominated in Japanese yen."},{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"If the Japanese yen appreciates against the U.S. dollar, our cost of purchasing flash-based memory wafers and the cost to us of future capital funding of Flash Ventures would increase."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"Japanese Yen: Leveraged Funds net share decreased","description":"Net positioning decreased by 15,747 contracts. 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NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Ranges of estimated useful lives of assets unique to our utilities and energy businesses are as follows: utility generation, transmission and distribution systems – 5 to 80 years , interstate natural gas pipeline assets – 3 to 80 years and independent power plants and other assets – 2 to 50 years ."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Ranges of estimated useful lives of assets unique to our utilities and energy businesses are as follows: utility generation, transmission and distribution systems – 5 to 80 years , interstate natural gas pipeline assets – 3 to 80 years and independent power plants and other assets – 2 to 50 years ."}]},"relatedCompanies":[{"ticker":"BRK-B","cik":"0001067983","rowId":"","companyName":"BERKSHIRE HATHAWAY INC","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Ranges of estimated useful lives of assets unique to our utilities and energy businesses are as follows: utility generation, transmission and distribution systems – 5 to 80 years , interstate natural gas pipeline assets – 3 to 80 years and independent power plants and other assets – 2 to 50 years ."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Ranges of estimated useful lives of assets unique to our utilities and energy businesses are as follows: utility generation, transmission and distribution systems – 5 to 80 years , interstate natural gas pipeline assets – 3 to 80 years and independent power plants and other assets – 2 to 50 years ."}]}},{"ticker":"CAT","cik":"0000018230","rowId":"","companyName":"CATERPILLAR INC","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"With 2025 sales and revenues of $67.589 billion, Caterpillar Inc. is shaping the future as the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"With 2025 sales and revenues of $67.589 billion, Caterpillar Inc. is shaping the future as the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"In addition, we are subject to price changes on energy products such as natural gas and diesel fuel purchased for operational use."}]}},{"ticker":"COP","cik":"0001163165","rowId":"","companyName":"CONOCOPHILLIPS","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We explore for, produce, transport and market crude oil, bitumen, natural gas, NGLs and LNG on a worldwide basis."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We explore for, produce, transport and market crude oil, bitumen, natural gas, NGLs and LNG on a worldwide basis."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"Alaska operations contributed 12 percent of our consolidated liquids production and one percent of our consolidated natural gas production."}]}},{"ticker":"COST","cik":"0000909832","rowId":"","companyName":"COSTCO WHOLESALE CORP /NEW","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Natural gas, diesel fuel, gasoline, and electricity are used in our operations, distribution channels, and value chain."},"evidence":[{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Natural gas, diesel fuel, gasoline, and electricity are used in our operations, distribution channels, and value chain."},{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"We are exposed to fluctuations in prices for energy, particularly electricity and natural gas, and other commodities used in retail and manufacturing operations."}]}},{"ticker":"CVX","cik":"0000093410","rowId":"","companyName":"CHEVRON CORP","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"The company sells crude oil, natural gas, and NGLs from its producing operations under a variety of contractual obligations."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"The company sells crude oil, natural gas, and NGLs from its producing operations under a variety of contractual obligations."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Most contracts generally commit the company to sell quantities based on production from specified properties, but some NGLs and natural gas sales contracts specify delivery of fixed and determinable quantities."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"Companies that provide utilities, water, transportation, natural gas and other resources and services across our supply chain, are critical to our manufacturing ope rations and are vulnerable to cyber-attacks."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"Companies that provide utilities, water, transportation, natural gas and other resources and services across our supply chain, are critical to our manufacturing ope rations and are vulnerable to cyber-attacks."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"— changes in macroeconomic and market conditions and market volatility, including developments and volatility arising from health crisis events, inflation, interest rates, the value of securities and other financial assets, precious metals, oil, natural gas, raw materials and other commodity prices and exchange rates (particularly between the U.S. dollar and the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso and euro), decreases or sudden increases of consumer demand, and the impact of such changes and volatility on our financial position and businesses;"}]}},{"ticker":"JPM","cik":"0000019617","rowId":"","companyName":"JPMORGAN CHASE & CO","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"In the physical commodity markets, the Firm primarily purchases and sells precious and base metals, natural gas, and may hold other commodities inventories under financing and other arrangements with clients."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"In the physical commodity markets, the Firm primarily purchases and sells precious and base metals, natural gas, and may hold other commodities inventories under financing and other arrangements with clients."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"In addition, we and our independent bottlers use a significant amount of electricity, natural gas and other energy sources to operate production plants, bottling plants and distribution facilities."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"In addition, we and our independent bottlers use a significant amount of electricity, natural gas and other energy sources to operate production plants, bottling plants and distribution facilities."}]}},{"ticker":"LIN","cik":"0001707925","rowId":"","companyName":"LINDE PLC","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"The company also designs and builds equipment that produces industrial gases and offers customers a wide range of gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants, and other types of plants."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"The company also designs and builds equipment that produces industrial gases and offers customers a wide range of gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants, and other types of plants."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"The majority of conventional hydrogen currently produced by Linde is derived from natural gas or methane, using steam methane reformation (SMR) or auto-thermal reforming (ATR) technology."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"• acts of war, terrorism or civil unrest that could impair our ability to produce refined products, receive feedstocks or to gather, process, fractionate or transport crude oil, natural gas, NGLs, refined products or renewable diesel and other renewable fuels;"},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"• acts of war, terrorism or civil unrest that could impair our ability to produce refined products, receive feedstocks or to gather, process, fractionate or transport crude oil, natural gas, NGLs, refined products or renewable diesel and other renewable fuels;"},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Our integrated midstream energy asset network links producers of natural gas and NGLs from some of the largest supply basins in the United States to domestic and international markets."}]}},{"ticker":"MS","cik":"0000895421","rowId":"","companyName":"MORGAN STANLEY","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"We are exposed to commodity price and implied volatility risk as a result of market-making activities in commodity products related primarily to electricity, natural gas, oil and precious metals."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"We are exposed to commodity price and implied volatility risk as a result of market-making activities in commodity products related primarily to electricity, natural gas, oil and precious metals."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"Our principal energy sources are purchased electricity, diesel fuel, heavy fuel oil and natural gas."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"Our principal energy sources are purchased electricity, diesel fuel, heavy fuel oil and natural gas."}]}},{"ticker":"PG","cik":"0000080424","rowId":"","companyName":"PROCTER & GAMBLE Co","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"In addition, fuel, natural gas and derivative products are important commodities consumed in our manufacturing processes and in the transportation of input materials and finished products."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"In addition, fuel, natural gas and derivative products are important commodities consumed in our manufacturing processes and in the transportation of input materials and finished products."}]}},{"ticker":"UNP","cik":"0000100885","rowId":"","companyName":"UNION PACIFIC CORP","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"In addition, other factors, such as geopolitical instability or changes in trade policies that may affect economic activity and demand for rail transportation; natural gas prices, weather conditions, and demand for other energy sources may impact the coal market; crude oil prices and spreads may drive demand for petroleum products and drilling materials; available truck capacity could impact our intermodal business; and international trade agreements could promote or hinder trade."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"In addition, other factors, such as geopolitical instability or changes in trade policies that may affect economic activity and demand for rail transportation; natural gas prices, weather conditions, and demand for other energy sources may impact the coal market; crude oil prices and spreads may drive demand for petroleum products and drilling materials; available truck capacity could impact our intermodal business; and international trade agreements could promote or hinder trade."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"NYMEX Natural Gas","reason":"The SEC annual filing contains a business or financial-risk passage mentioning natural gas. NYMEX gas positioning supplies U.S. benchmark context; regional and LNG prices can differ.","reviewQuestion":"Is the company a producer or consumer, and how do regional gas prices and hedging affect the business?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"We are subject to risks arising from the availability and prices of natural gas, electricity, and water."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"We are subject to risks arising from the availability and prices of natural gas, electricity, and water."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Our operations depend on the reliable supply of natural gas, electricity, and water."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"NYMEX Natural Gas: Managed Money net share increased","description":"Net positioning increased by 34,658 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement) at the Company’s option."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement) at the Company’s option."},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Each Term SOFR Loan will bear interest at a rate per annum equal to the applicable adjusted term SOFR plus a margin based on the Company’s Debt Ratings (as defined in the Revolving Credit Agreement) from time to time of between 0.46 % and 0.90 %."}]}},{"ticker":"AMD","cik":"0000002488","rowId":"","companyName":"ADVANCED MICRO DEVICES INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"In 2024, the Company provided a $ 100 million term loan to one of the ATMP JVs for general corporate purposes, with interest at the three months term Secured Overnight Financing Rate (SOFR) plus 50 basis points, payable quarterly."},"evidence":[{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"In 2024, the Company provided a $ 100 million term loan to one of the ATMP JVs for general corporate purposes, with interest at the three months term Secured Overnight Financing Rate (SOFR) plus 50 basis points, payable quarterly."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To achieve a desired mix of fixed-rate and floating-rate debt, we entered into interest rate swap contracts that effectively converted a fixed-rate interest coupon for certain of our debt issuances to a floating, SOFR-based coupon over the terms of the respective notes."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To achieve a desired mix of fixed-rate and floating-rate debt, we entered into interest rate swap contracts that effectively converted a fixed-rate interest coupon for certain of our debt issuances to a floating, SOFR-based coupon over the terms of the respective notes."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"As of December 31, 2025, we had $ 1.8  billion of borrowings outstanding under the term loan credit agreement, which has an interest rate of three-month SOFR plus 1.225 % and is due in October 2026."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In January 2023, we entered into an $ 8.0 billion unsecured 364-day term loan with a syndicate of lenders (the “Term Loan”), maturing in January 2024 and bearing interest at the Secured Overnight Financing Rate specified in the Term Loan plus 0.75 %."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In January 2023, we entered into an $ 8.0 billion unsecured 364-day term loan with a syndicate of lenders (the “Term Loan”), maturing in January 2024 and bearing interest at the Secured Overnight Financing Rate specified in the Term Loan plus 0.75 %."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Revolving Credit Facility matures in March 2029 and gives the Company and certain of its subsidiaries the ability to borrow, in various currencies, at a spread that varies, based on the Company’s debt rating, over certain currency-specific benchmark rates, which benchmark rates, in the case of U.S. dollar borrowings, are either the base rate or the adjusted term Secured Overnight Financing Rate (“SOFR”)."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Revolving Credit Facility matures in March 2029 and gives the Company and certain of its subsidiaries the ability to borrow, in various currencies, at a spread that varies, based on the Company’s debt rating, over certain currency-specific benchmark rates, which benchmark rates, in the case of U.S. dollar borrowings, are either the base rate or the adjusted term Secured Overnight Financing Rate (“SOFR”)."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"Interest rates under each Delayed Draw Term Loan are based on a spread over either the base rate or the adjusted term SOFR, which spread varies based on the Company’s debt rating."}]}},{"ticker":"AVGO","cik":"0001730168","rowId":"","companyName":"Broadcom Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"The 2023 Term Loans bore interest, payable monthly or every three months at our election, at floating interest rates tied to the Secured Overnight Financing Rate (“SOFR”)."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"The 2023 Term Loans bore interest, payable monthly or every three months at our election, at floating interest rates tied to the Secured Overnight Financing Rate (“SOFR”)."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"The borrowings under the Informatica Credit Agreements bear interest at a fluctuating rate per annum equal to, at our option, an alternate base rate or term Secured Overnight Financing Rate (“SOFR”), in each case, plus an applicable margin calculated based on our credit ratings."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"The borrowings under the Informatica Credit Agreements bear interest at a fluctuating rate per annum equal to, at our option, an alternate base rate or term Secured Overnight Financing Rate (“SOFR”), in each case, plus an applicable margin calculated based on our credit ratings."}]}},{"ticker":"CVX","cik":"0000093410","rowId":"","companyName":"CHEVRON CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Any borrowings under these facilities would be unsecured indebtedness at interest rates based on the Secured Overnight Financing Rate (SOFR), or an average of base lending rates published by specified banks and on terms reflecting the company’s strong credit rating."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Any borrowings under these facilities would be unsecured indebtedness at interest rates based on the Secured Overnight Financing Rate (SOFR), or an average of base lending rates published by specified banks and on terms reflecting the company’s strong credit rating."}]}},{"ticker":"DELL","cik":"0001571996","rowId":"","companyName":"Dell Technologies Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The margin applicable to SOFR and base rate borrowings varies based upon the Company’s existing credit ratings."},"evidence":[{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The margin applicable to SOFR and base rate borrowings varies based upon the Company’s existing credit ratings."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Under the Company’s U.S. dollar and euro-denominated commercial paper program, the notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to the Secured Overnight Financing Rate or Euro Interbank Offer Rate, depending on the applicable currency of the borrowing."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Under the Company’s U.S. dollar and euro-denominated commercial paper program, the notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to the Secured Overnight Financing Rate or Euro Interbank Offer Rate, depending on the applicable currency of the borrowing."}]}},{"ticker":"DIS","cik":"0001744489","rowId":"","companyName":"Walt Disney Co","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"The Company’s bank facilities allow for borrowings at rates based on the Secured Overnight Financing Rate (SOFR) and at other variable rates for non-U.S. dollar denominated borrowings, plus a fixed spread that varies with the Company’s debt ratings assigned by Moody’s Ratings and S&P Global Ratings ranging from 0.63% to 1.1%."},"evidence":[{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"The Company’s bank facilities allow for borrowings at rates based on the Secured Overnight Financing Rate (SOFR) and at other variable rates for non-U.S. dollar denominated borrowings, plus a fixed spread that varies with the Company’s debt ratings assigned by Moody’s Ratings and S&P Global Ratings ranging from 0.63% to 1.1%."},{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"The Company has entered into pay-floating interest rate and cross-currency swaps that effectively convert the borrowing to a variable-rate U.S. dollar denominated borrowing indexed to SOFR."}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"Loans under our revolving credit facility bear interest at either (i) Term Secured Overnight Financing Rate plus the Applicable Percentage, (ii) the Alternative Currency Term Rate plus the Applicable Percentage, or (iii) the Base Rate plus the Applicable Percentage, each as defined in the revolving credit facility agreement."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"Loans under our revolving credit facility bear interest at either (i) Term Secured Overnight Financing Rate plus the Applicable Percentage, (ii) the Alternative Currency Term Rate plus the Applicable Percentage, or (iii) the Base Rate plus the Applicable Percentage, each as defined in the revolving credit facility agreement."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"The primary objective of our investment policy is to preserve principal and provide financial flexibility to fund our business while maximizing yields, which generally track SOFR."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"The primary objective of our investment policy is to preserve principal and provide financial flexibility to fund our business while maximizing yields, which generally track SOFR."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We generally enter into interest rate contracts to convert the returns on our fixed-rate debt investments with remaining maturities longer than six months into SOFR-based returns."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"In 2026, we entered into interest rate swaps which are designated as fair value hedges and allow us to convert a portion of our fixed-rate payments under the senior, unsecured long-term notes issued in June 2022 (“2022 Senior Notes”) into floating-rate payments based on the Daily Secured Overnight Financing Rate swap rate plus a fixed number of basis points."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"In 2026, we entered into interest rate swaps which are designated as fair value hedges and allow us to convert a portion of our fixed-rate payments under the senior, unsecured long-term notes issued in June 2022 (“2022 Senior Notes”) into floating-rate payments based on the Daily Secured Overnight Financing Rate swap rate plus a fixed number of basis points."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We manage our exposure to certain interest rate risks related to our Senior Notes through the use of interest rate swaps that effectively convert the fixed interest rates to floating interest rates based on the Daily Secured Overnight Financing Rate swap rate plus a fixed number of basis points."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Interest on amounts borrowed under the credit facility is, at the Company’s option, based on (1) a base rate, plus a spread of 0.00 % to 0.10 %, or (2) an adjusted term Secured Overnight Financing Rate, plus a spread of 0.70 % to 1.10 %, in each case plus a facility fee, with such spread and facility fee determined in accordance with the Third Amended and Restated Credit Agreement, and with the spread and facility fee based on the rating of the Company’s non-credit enhanced, senior unsecured long-term debt."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Interest on amounts borrowed under the credit facility is, at the Company’s option, based on (1) a base rate, plus a spread of 0.00 % to 0.10 %, or (2) an adjusted term Secured Overnight Financing Rate, plus a spread of 0.70 % to 1.10 %, in each case plus a facility fee, with such spread and facility fee determined in accordance with the Third Amended and Restated Credit Agreement, and with the spread and facility fee based on the rating of the Company’s non-credit enhanced, senior unsecured long-term debt."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"We expect interest rates on borrowings under our Credit Agreement to be based on the Term Secured Overnight Financing Rate plus a percentage based on the higher of the ratings of our long-term senior unsecured debt from Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Financial Services LLC (“S&P”)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"We expect interest rates on borrowings under our Credit Agreement to be based on the Term Secured Overnight Financing Rate plus a percentage based on the higher of the ratings of our long-term senior unsecured debt from Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Financial Services LLC (“S&P”)."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Borrowings under the MPC Credit Agreement bear interest, at our election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPC Credit Agreement, plus an applicable margin ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Borrowings under the MPC Credit Agreement bear interest, at our election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPC Credit Agreement, plus an applicable margin ."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Borrowings under the Term Loan Agreement will generally bear interest at adjusted term SOFR plus an applicable interest rate margin ranging from 0.875 % to 1.50 %, depending on our corporate credit ratings."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Borrowings under the Term Loan Agreement will generally bear interest at adjusted term SOFR plus an applicable interest rate margin ranging from 0.875 % to 1.50 %, depending on our corporate credit ratings."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Under the Revolving Credit Facility, borrowing would generally bear interest at a rate equal to adjusted term SOFR plus 0.875 % to 1.50 %, depending on our corporate credit ratings."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"In November 2020, the Company and Barrick entered into an agreement with Pueblo Viejo to provide funding for the expansion of Pueblo Viejo's operations of up to $ 1,300 ($ 520 attributable to Newmont's 40 % ownership interest) through a loan facility bearing interest at 95 % of the 6-month SOFR plus 4.25 % which is compounded semi-annually in arrears on February 28 and August 31 of each year (“Loan Facility”)."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"In November 2020, the Company and Barrick entered into an agreement with Pueblo Viejo to provide funding for the expansion of Pueblo Viejo's operations of up to $ 1,300 ($ 520 attributable to Newmont's 40 % ownership interest) through a loan facility bearing interest at 95 % of the 6-month SOFR plus 4.25 % which is compounded semi-annually in arrears on February 28 and August 31 of each year (“Loan Facility”)."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"In October 2024, the Company and Barrick agreed to provide additional funding of up to $ 800 ($ 320 attributable to Newmont's 40 % ownership interest) through an additional loan facility bearing interest at the 6-month SOFR plus 3.81 % which is compounded semi-annually in arrears on February 15 and August 15 of each year and matures on February 15, 2039 (“Loan Facility II”)."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The borrowings under the Revolving Credit Agreement bear interest, at the Company’s option, of either (i) a floating rate per annum equal to a base rate (the “Alternate Base Rate”) plus an applicable margin or (ii) a per annum rate equal to an adjusted term SOFR rate (the “Adjusted Term SOFR Rate”) plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The borrowings under the Revolving Credit Agreement bear interest, at the Company’s option, of either (i) a floating rate per annum equal to a base rate (the “Alternate Base Rate”) plus an applicable margin or (ii) a per annum rate equal to an adjusted term SOFR rate (the “Adjusted Term SOFR Rate”) plus an applicable margin."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The applicable margin for Alternate Base Rate loans will range from 0.00 % to 0.25 %, and the applicable margin for Adjusted Term SOFR Rate loans will range from 0.75 % to 1.25 %, each based on the Company’s credit ratings."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Interest is based on either (a) a Term Secured Overnight Financing Rate (SOFR)-based formula plus a margin of 87.5 basis points to 150.0 basis points, depending on the credit rating assigned to our long-term senior unsecured debt, or (b) a Base Rate formula plus a margin of 0.0 basis point to 50.0 basis points, depending on the same such credit rating, each as set forth in the Revolving Credit Agreement."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Interest is based on either (a) a Term Secured Overnight Financing Rate (SOFR)-based formula plus a margin of 87.5 basis points to 150.0 basis points, depending on the credit rating assigned to our long-term senior unsecured debt, or (b) a Base Rate formula plus a margin of 0.0 basis point to 50.0 basis points, depending on the same such credit rating, each as set forth in the Revolving Credit Agreement."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Interest is based on either (a) a Term SOFR-based formula plus a margin of 112.5 basis points to 162.5 basis points, depending on the credit rating assigned to our long-term senior unsecured debt, or (b) a Base Rate formula plus a margin of 12.5 basis points to 62.5 basis points, depending on the same such credit rating, each as set forth in the Term Loan Credit Agreement 2."}]}},{"ticker":"PANW","cik":"0001327567","rowId":"","companyName":"Palo Alto Networks Inc","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"The borrowings under the Credit Facility bear interest, at our option, at a base rate plus a spread of 0.000 % to 0.375 %, or an adjusted term Secured Overnight Financing Rate plus a spread of 1.000 % to 1.375 %, in each case with such spread being determined based on our leverage ratio."},"evidence":[{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"The borrowings under the Credit Facility bear interest, at our option, at a base rate plus a spread of 0.000 % to 0.375 %, or an adjusted term Secured Overnight Financing Rate plus a spread of 1.000 % to 1.375 %, in each case with such spread being determined based on our leverage ratio."}]}},{"ticker":"PH","cik":"0000076334","rowId":"","companyName":"Parker-Hannifin Corp","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"Borrowings under the Credit Facilities are expected to bear interest at a secured overnight financing rate plus an applicable margin, and we were obligated to pay certain fees on the undrawn portion of the commitments until the closing of the FGC acquisition."},"evidence":[{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"Borrowings under the Credit Facilities are expected to bear interest at a secured overnight financing rate plus an applicable margin, and we were obligated to pay certain fees on the undrawn portion of the commitments until the closing of the FGC acquisition."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our loans under our credit facility would incur interest at the Secured Overnight Financing Rate (“SOFR”) as administered by the Federal Reserve Bank of New York, or a successor administrator of the SOFR (or the applicable benchmark replacement) plus 2.00% or a base rate plus 1.00%, subject to certain adjustments, and would generally be payable quarterly."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our loans under our credit facility would incur interest at the Secured Overnight Financing Rate (“SOFR”) as administered by the Federal Reserve Bank of New York, or a successor administrator of the SOFR (or the applicable benchmark replacement) plus 2.00% or a base rate plus 1.00%, subject to certain adjustments, and would generally be payable quarterly."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"The Term Loan Facility bore interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an interest rate margin of 3.00 % per annum or (y) a base rate plus an interest rate margin of 2.00 % per annum."},"evidence":[{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"The Term Loan Facility bore interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an interest rate margin of 3.00 % per annum or (y) a base rate plus an interest rate margin of 2.00 % per annum."},{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Borrowings under the Revolving Credit Facility, for U.S. dollar borrowings, will bear interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement), which rate includes a credit spread adjustment of 0.10 %, plus an interest rate margin of 2.00 % per annum (subject to step-ups based on the Company’s Leverage Ratio (as defined in the Loan Agreement)), or (y) a base rate plus an interest rate margin of 1.00 % per annum (subject to step-ups based on the Company’s Leverage Ratio (as defined in the Loan Agreement))."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"The loans made under the Credit Agreement will bear interest at an Applicable Rate based on the secured overnight financing rate, or SOFR, plus a variable margin that will be determined based on the corporate credit rating of the Company."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"The loans made under the Credit Agreement will bear interest at an Applicable Rate based on the secured overnight financing rate, or SOFR, plus a variable margin that will be determined based on the corporate credit rating of the Company."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"The Applicable Margin for SOFR Rate Term Advances will be equal to 0.450 %, 0.575 %, 0.825 %, 0.950 % and 1.075 % per annum for the 364-Day Term Loan Facility and 0.550 %, 0.675 %, 0.925 %, 1.050 % and 1.175 % per annum for the Two-Year Term Loan Facility, in each case, depending on our senior unsecured long-term debt ratings."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"The Applicable Margin for SOFR Rate Term Advances will be equal to 0.450 %, 0.575 %, 0.825 %, 0.950 % and 1.075 % per annum for the 364-Day Term Loan Facility and 0.550 %, 0.675 %, 0.925 %, 1.050 % and 1.175 % per annum for the Two-Year Term Loan Facility, in each case, depending on our senior unsecured long-term debt ratings."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"The Applicable Margin for Base Rate Term Advances under the Term Loan will be equal to the greater of (x) 0.00 % and (y) the relevant Applicable Margin for SOFR Rate Term Advances minus 1.00 % per annum, depending on our unsecured long-term debt ratings."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Additionally, on May 9, 2025, the Company amended and restated its $ 1  billion revolving credit facility (as amended, the 2030 Revolving Credit Facility) to (i) extend the maturity to May 9, 2030, (ii) decrease the aggregate principal amount of commitments to $ 750 million and (iii) reduce the interest rate margin applicable to borrowings bearing interest at a term secured overnight financing rate to a margin of 45.0 - 87.5 basis points consistent with the 2029 Revolving Credit Facility."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Additionally, on May 9, 2025, the Company amended and restated its $ 1  billion revolving credit facility (as amended, the 2030 Revolving Credit Facility) to (i) extend the maturity to May 9, 2030, (ii) decrease the aggregate principal amount of commitments to $ 750 million and (iii) reduce the interest rate margin applicable to borrowings bearing interest at a term secured overnight financing rate to a margin of 45.0 - 87.5 basis points consistent with the 2029 Revolving Credit Facility."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"UBER","cik":"0001543151","rowId":"","companyName":"Uber Technologies, Inc","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"Loans under the Credit Agreement will bear interest, at our option, at either the term SOFR rate (determined in accordance with the Credit Agreement) plus an initial margin of 1.00 % per annum or the base rate (determined in accordance with the Credit Agreement) plus an initial margin of 0.00 % per annum."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"Loans under the Credit Agreement will bear interest, at our option, at either the term SOFR rate (determined in accordance with the Credit Agreement) plus an initial margin of 1.00 % per annum or the base rate (determined in accordance with the Credit Agreement) plus an initial margin of 0.00 % per annum."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"The applicable margin over the term SOFR rate and the base rate, as well as the commitment fee, will fluctuate based upon the ratings of our non-credit enhanced senior unsecured long-term debt."}]}},{"ticker":"UNP","cik":"0000100885","rowId":"","companyName":"UNION PACIFIC CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"The Facility allows for borrowings at floating rates based on Term Secured Overnight Financing Rate (SOFR), plus a spread, depending upon credit ratings for our senior unsecured debt."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"The Facility allows for borrowings at floating rates based on Term Secured Overnight Financing Rate (SOFR), plus a spread, depending upon credit ratings for our senior unsecured debt."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"In October 2025, we amended our revolving credit facility (the Valero Revolver), which has a borrowing capacity of $ 4  billion, to extend the maturity date from November 2027 to October 2030 and to modify the reference interest rate from the Adjusted Term SOFR, a secured overnight financing rate (SOFR), to the Term SOFR."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"In October 2025, we amended our revolving credit facility (the Valero Revolver), which has a borrowing capacity of $ 4  billion, to extend the maturity date from November 2027 to October 2030 and to modify the reference interest rate from the Adjusted Term SOFR, a secured overnight financing rate (SOFR), to the Term SOFR."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Effective October 2025, outstanding borrowings under the Valero Revolver bear interest, at our option, at either (i) the Term SOFR or (ii) the Alternate Base Rate (each of these rates is defined in the Valero Revolver), plus the applicable margins."}]}},{"ticker":"WDC","cik":"0000106040","rowId":"","companyName":"WESTERN DIGITAL CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Borrowings under the Loan Agreement bear interest, at the Company’s option, at a per annum rate equal to either (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an applicable margin varying from 1.125 % to 2.000 % or (y) a base rate plus an applicable margin varying from 0.125 % to 1.000 %, in each case depending on the corporate family ratings of the Company from at least two of the Credit Rating Agencies (as defined in the Loan Agreement)."},"evidence":[{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Borrowings under the Loan Agreement bear interest, at the Company’s option, at a per annum rate equal to either (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an applicable margin varying from 1.125 % to 2.000 % or (y) a base rate plus an applicable margin varying from 0.125 % to 1.000 %, in each case depending on the corporate family ratings of the Company from at least two of the Credit Rating Agencies (as defined in the Loan Agreement)."}]}},{"ticker":"WELL","cik":"0000766704","rowId":"","companyName":"WELLTOWER INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Based on our current credit ratings and annual sustainability results, the loans under the unsecured revolving credit facility currently bear interest at 0.705 % over the adjusted SOFR rate at December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Based on our current credit ratings and annual sustainability results, the loans under the unsecured revolving credit facility currently bear interest at 0.705 % over the adjusted SOFR rate at December 31, 2025."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"Three-Month SOFR: total open interest decreased","description":"Net positioning increased by 329,162 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]},"relatedCompanies":[{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"As of December 31, 2025, we had outstanding euro- and pound-sterling-denominated debt with both a principal carrying value and a fair value of $2.5 billion."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We face exposure to movements in foreign currency exchange rates as the financial results and the financial condition of our businesses outside of the U.S., which represent a substantial majority of our financial results, are translated from local currencies (principally Euros and British Pounds Sterling) into U.S."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company’s revenue and expense generated in foreign currencies (primarily the euro and British pound) are impacted by foreign exchange rates."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"• In June 2025, we established an additional commercial paper program, under which we may issue, repay and re-issue short-term unsecured commercial paper notes (“CPNs”) denominated in British pound sterling, euros or U.S. dollars in an aggregate amount of up to €1.0 billion (or its equivalent in other currencies)."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"TXN","cik":"0000097476","rowId":"","companyName":"TEXAS INSTRUMENTS INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"As of December 31, 2025, we had forward currency exchange contracts outstanding with a notional value of $675 million to hedge net balance sheet exposures (including $174 million to sell Malaysian ringgit, $169 million to buy Indian rupee and $107 million to sell British pounds)."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"As of December 31, 2025, we had forward currency exchange contracts outstanding with a notional value of $675 million to hedge net balance sheet exposures (including $174 million to sell Malaysian ringgit, $169 million to buy Indian rupee and $107 million to sell British pounds)."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"Our forward foreign currency exchange contracts outstanding as of December 31, 2025, had a notional value of $ 675 million to hedge our non-U.S. dollar net balance sheet exposures, including $ 174 million to sell Malaysian ringgit, $ 169 million to buy Indian rupee and $ 107 million to sell British pounds."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2024, approximately $30.5 billion, or 20.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"British Pound: total open interest decreased","description":"Net positioning decreased by 5,639 contracts. Reported longs changed by +1,103 and reported shorts by +6,742 contracts. Net share of total open interest changed by -0.60 percentage points. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of € 3.1  billion at December 31, 2025 and December 31, 2024."}]},"relatedCompanies":[{"ticker":"ABBV","cik":"0001551152","rowId":"","companyName":"AbbVie Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of € 3.1  billion at December 31, 2025 and December 31, 2024."}]}},{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Currently, our largest foreign currency exposure is the Euro, primarily because our European operations have the highest proportion of our local currency denominated expenses."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Currently, our largest foreign currency exposure is the Euro, primarily because our European operations have the highest proportion of our local currency denominated expenses."},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"Our international operations are affected by fluctuations in the value of the U.S. dollar compared with foreign currencies, predominantly the euro."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company has excluded expected interest payments on the Revolving Credit Facility, Commercial Paper Program and Euro Commercial Paper Program from the above table, as this calculation is largely dependent on average debt levels during each of the years presented."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company has excluded expected interest payments on the Revolving Credit Facility, Commercial Paper Program and Euro Commercial Paper Program from the above table, as this calculation is largely dependent on average debt levels during each of the years presented."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"Company’s Common Stock of $665.2, (c) dividend payments of $802.2, (d) payments of $89.1 related to debt financing costs associated with the Delayed Draw Term Loans, as well as the issuances of the 2028 Senior Notes, the 2032 Euro Notes and the November Senior Notes, (e) settlement of the treasury locks of $88.0, and (f) distributions to and purchases of noncontrolling interests of $5.8."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"In addition, we may designate certain portions of the aggregate principal value of our Euro-denominated debt as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company’s revenue and expense generated in foreign currencies (primarily the euro and British pound) are impacted by foreign exchange rates."}]}},{"ticker":"BMY","cik":"0000014272","rowId":"","companyName":"BRISTOL MYERS SQUIBB CO","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"In November 2025, BMS Ireland Capital Funding Designated Activity Company, a wholly-owned subsidiary of Bristol-Myers Squibb, completed a registered public offering of €5.0 billion in aggregate principal amount of euro-denominated senior unsecured notes (\"2025 Senior Unsecured Notes\"), with proceeds, net of loan issuance costs, of $5.7 billion."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"In November 2025, BMS Ireland Capital Funding Designated Activity Company, a wholly-owned subsidiary of Bristol-Myers Squibb, completed a registered public offering of €5.0 billion in aggregate principal amount of euro-denominated senior unsecured notes (\"2025 Senior Unsecured Notes\"), with proceeds, net of loan issuance costs, of $5.7 billion."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Cross-currency swap contracts are used to manage risk arising from long-term debt denominated in euros and to hedge the Company's net investment in its foreign subsidiaries."}]}},{"ticker":"CAT","cik":"0000018230","rowId":"","companyName":"CATERPILLAR INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"Our primary exposure (excluding competitive risk) is to exchange rate movements in the Australian dollar, Chinese yuan, Euro, Indian rupee and Mexican peso."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"Our primary exposure (excluding competitive risk) is to exchange rate movements in the Australian dollar, Chinese yuan, Euro, Indian rupee and Mexican peso."}]}},{"ticker":"CB","cik":"0000896159","rowId":"","companyName":"Chubb Ltd","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"From time to time, we use derivatives to hedge planned cross-border transactions, and designate certain derivatives to hedge foreign currency risk on our euro denominated debt and exposure in the net investments of certain foreign subsidiaries."},"evidence":[{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"From time to time, we use derivatives to hedge planned cross-border transactions, and designate certain derivatives to hedge foreign currency risk on our euro denominated debt and exposure in the net investments of certain foreign subsidiaries."},{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Chubb holds certain cross-currency swaps designated as fair value hedges and net investment hedges for foreign currency exposure associated with portions of our euro denominated debt and the net investment in certain foreign subsidiaries, respectively."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are also exposed to foreign exchange risk due to changes in the dollar-denominated value of future earnings and cash flows from our foreign operations and from our Euro (“EUR”)-denominated borrowing."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are also exposed to foreign exchange risk due to changes in the dollar-denominated value of future earnings and cash flows from our foreign operations and from our Euro (“EUR”)-denominated borrowing."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"Our non-dollar denominated intercompany funding and EUR-denominated borrowing expose our earnings to foreign exchange transaction risk."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"As of December 31, 2025, the Company has classified approximately $3.5 billion of its borrowings outstanding under the euro-denominated commercial paper program, the 2026 Biopharma Euronotes and the 2026 Euronotes as long-term debt in the Consolidated Balance Sheet as the Company has the intent and ability, as supported by availability under the Credit Facility, to refinance these borrowings for at least one year from the balance sheet date."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"As of December 31, 2025, the Company has classified approximately $3.5 billion of its borrowings outstanding under the euro-denominated commercial paper program, the 2026 Biopharma Euronotes and the 2026 Euronotes as long-term debt in the Consolidated Balance Sheet as the Company has the intent and ability, as supported by availability under the Credit Facility, to refinance these borrowings for at least one year from the balance sheet date."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Under the Company’s U.S. dollar and euro-denominated commercial paper program, the notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to the Secured Overnight Financing Rate or Euro Interbank Offer Rate, depending on the applicable currency of the borrowing."}]}},{"ticker":"ETN","cik":"0001551182","rowId":"","companyName":"Eaton Corp plc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"Further, as of December 31, 2025, all of these long-term debt instruments, except the 0.128 % Euro notes due 2026, the 0.577 % Euro notes due 2030, the 3.601 % Euro notes due 2031, and the 3.802 % Euro notes due 2036 are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes)."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"Further, as of December 31, 2025, all of these long-term debt instruments, except the 0.128 % Euro notes due 2026, the 0.577 % Euro notes due 2030, the 3.601 % Euro notes due 2031, and the 3.802 % Euro notes due 2036 are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes)."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"On May 9, 2025, a subsidiary of Eaton issued Euro denominated notes (2025 Euro Notes) with a face amount of € 500  million ($ 564  million)."}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Foreign Currency Exchange: Because a significant percentage of our product sales is denominated in foreign currencies, primarily the Euro, we face exposure to adverse movements in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Foreign Currency Exchange: Because a significant percentage of our product sales is denominated in foreign currencies, primarily the Euro, we face exposure to adverse movements in foreign currency exchange rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"We generally face exposure to movements in foreign currency exchange rates, primarily in the Euro."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The impact to income from unrealized activity for the year ended December 31, 2025 was primarily driven by unrealized gains from our South Korean won, Japanese yen, Mexican peso-denominated hedges, partially offset by unrealized losses from our euro-denominated hedges."}]}},{"ticker":"GOOGL","cik":"0001652044","rowId":"","companyName":"Alphabet Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"During 2025, we issued $22.5 billion of US dollar-denominated senior unsecured notes and €13.25 billion of euro-denominated senior unsecured notes for general corporate purposes, comprised of the following:"},"evidence":[{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"During 2025, we issued $22.5 billion of US dollar-denominated senior unsecured notes and €13.25 billion of euro-denominated senior unsecured notes for general corporate purposes, comprised of the following:"},{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"We also issued €6.75 billion of euro-denominated fixed-rate senior unsecured notes with a weighted-average coupon rate of 3.31%, and a weighted-average maturity of approximately 14 years."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"}]}},{"ticker":"JNJ","cik":"0000200406","rowId":"","companyName":"JOHNSON & JOHNSON","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company designated its Euro denominated notes with due dates ranging from 2028 to 2055 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company designated its Euro denominated notes with due dates ranging from 2028 to 2055 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LIN","cik":"0001707925","rowId":"","companyName":"LINDE PLC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"For the twelve months ended December 31, 2025, Linde issued €4,000 million Euro-denominated notes and CHF500 million Swiss-franc denominated notes, and redeemed or repaid $1,000 million U.S. dollar-denominated notes and €1,000 million Euro denominated notes (see Note 11)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"For the twelve months ended December 31, 2025, Linde issued €4,000 million Euro-denominated notes and CHF500 million Swiss-franc denominated notes, and redeemed or repaid $1,000 million U.S. dollar-denominated notes and €1,000 million Euro denominated notes (see Note 11)."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"(g) In November 2025, Linde issued three tranches of euro-denominated notes, € 600 million of floating-rate notes due in 2027, at three-month EURIBOR plus a fixed spread and resetting quarterly ( 2.271 % as of December 31, 2025); € 650 million of 3.125 % fixed-rate notes due in 2032, and € 500 million of 3.750 % fixed-rate notes due in 2038."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Currently, we hedge certain anticipated foreign currency cash flows, primarily anticipated revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."}]}},{"ticker":"MA","cik":"0001141391","rowId":"","companyName":"Mastercard Inc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"The objective of these activities is to reduce our exposure to gains and losses resulting from fluctuations of foreign currencies against our functional currencies, principally the U.S. dollar and euro."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"The objective of these activities is to reduce our exposure to gains and losses resulting from fluctuations of foreign currencies against our functional currencies, principally the U.S. dollar and euro."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, the Company had € 1.7 billion and € 1.3 billion euro-denominated debt outstanding designated as hedges of a portion of its net investment in its European operations."}]}},{"ticker":"MDT","cik":"0001613103","rowId":"","companyName":"Medtronic plc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2026, the Company issued two tranches of Euro-denominated Senior Notes with an aggregate principal of €1.5 billion, or $1.7 billion."},"evidence":[{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2026, the Company issued two tranches of Euro-denominated Senior Notes with an aggregate principal of €1.5 billion, or $1.7 billion."},{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2025, the Company issued four tranches of Euro-denominated Senior Notes with an aggregate principal of €3.0 billion, or $3.2 billion, which was partially offset by repayments of commercial paper of $1.1 billion."}]}},{"ticker":"META","cik":"0001326801","rowId":"","companyName":"Meta Platforms, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, the majority of which is in Euro."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, the majority of which is in Euro."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"▪ Debt Repayment - In the second quarter of 2025, we repaid in full at maturity (i) senior unsecured notes in the aggregate principal amount of $750 million and (ii) senior unsecured Euro notes in the aggregate principal amount of €750 million ($857 million)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"▪ Debt Repayment - In the second quarter of 2025, we repaid in full at maturity (i) senior unsecured notes in the aggregate principal amount of $750 million and (ii) senior unsecured Euro notes in the aggregate principal amount of €750 million ($857 million)."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Our investment in ABI, whose functional currency is the Euro, exposes us to foreign currency exchange risk on the carrying value of our investment."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"In 2024, the Company’s $750 million, 2.90% notes and the Company’s €500 million, 0.50% euro-denominated notes matured in accordance with their terms and were repaid."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"In 2024, the Company’s $750 million, 2.90% notes and the Company’s €500 million, 0.50% euro-denominated notes matured in accordance with their terms and were repaid."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, significant amounts of our operating expenses and capital expenditures, and certain assets and liabilities, are incurred in or exposed to other currencies, primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"ended December 31, 2025, the foreign exchange losses were primarily driven by the non-cash loss of $72 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts, coupled with the remeasurement of cash and content liability positions in currencies other than the functional currencies."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"ended December 31, 2025, the foreign exchange losses were primarily driven by the non-cash loss of $72 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts, coupled with the remeasurement of cash and content liability positions in currencies other than the functional currencies."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The foreign exchange losses in the year ended December 31, 2024 were primarily driven by the remeasurement of cash and content liability positions in currencies other than the functional currencies, partially offset by a non-cash gain of $122 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Dollar against the Euro and most other major international currencies, adversely affects our revenue growth by reducing the U.S."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Dollar against the Euro and most other major international currencies, adversely affects our revenue growth by reducing the U.S."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"For example, if an entity reporting in Euros had revenues of 1.0 million Euros from products sold on May 31, 2026 and 2025, our financial statements would reflect reported revenues of $1.16 million in fiscal 2026 (using 1.16 as the applicable average exchange rate for the period) and $1.13 million in fiscal 2025 (using 1.13 as the applicable average exchange rate for the period)."}]}},{"ticker":"PEP","cik":"0000077476","rowId":"","companyName":"PEPSICO INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"Subsequent to December 27, 2025, we designated $4.5 billion of existing euro denominated debt as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"Subsequent to December 27, 2025, we designated $4.5 billion of existing euro denominated debt as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"(b) These notes, issued in euros, were designated as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."}]}},{"ticker":"PG","cik":"0000080424","rowId":"","companyName":"PROCTER & GAMBLE Co","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"The maturity cash outflows of foreign currency debt and derivative instruments could be adversely impacted by significant appreciation of foreign currency exchange rates (particularly the Euro), which could impact our overall cash flows and interest expense."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"The maturity cash outflows of foreign currency debt and derivative instruments could be adversely impacted by significant appreciation of foreign currency exchange rates (particularly the Euro), which could impact our overall cash flows and interest expense."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"• In June 2025, we established an additional commercial paper program, under which we may issue, repay and re-issue short-term unsecured commercial paper notes (“CPNs”) denominated in British pound sterling, euros or U.S. dollars in an aggregate amount of up to €1.0 billion (or its equivalent in other currencies)."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"However, when the U.S. dollar strengthens compared to other currencies (primarily the Euro and GBP), it has had, and could in the future have, an unfavorable impact on our revenues and expenses from certain non-U.S. customers or vendors whose contracts are denominated in currencies other than the U.S. dollar."}]}},{"ticker":"PM","cik":"0001413329","rowId":"","companyName":"Philip Morris International Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Foreign currency denominated debt and the majority of our $50 billion gross notional amount of derivative financial instruments are subject to foreign currency exchange rates fluctuation, primarily between the Euro and U.S."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Foreign currency denominated debt and the majority of our $50 billion gross notional amount of derivative financial instruments are subject to foreign currency exchange rates fluctuation, primarily between the Euro and U.S."}]}},{"ticker":"RTX","cik":"0000101829","rowId":"","companyName":"RTX Corp","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"As of December 31 2024, we had € 320 million of our € 500 million principal value of euro-denominated long-term debt designated as a net investment hedge against our investments in European businesses."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"As of December 31 2024, we had € 320 million of our € 500 million principal value of euro-denominated long-term debt designated as a net investment hedge against our investments in European businesses."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, we held cross currency swaps to hedge a portion of our net investment in one of our European subsidiaries against volatility in the Euro/U.S. dollar exchange rate."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, we held cross currency swaps to hedge a portion of our net investment in one of our European subsidiaries against volatility in the Euro/U.S. dollar exchange rate."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"A portion of the company’s euro-denominated senior notes, certain foreign currency-denominated payables, and its cross-currency interest rate swaps have been designated as, and are effective as, economic hedges of part of the net investment in a foreign operation."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"We transact business globally in multiple currencies and hence have foreign currency risks related to our revenue, costs of revenue and operating expenses denominated in currencies other than the U.S. dollar (primarily the Chinese yuan and euro in relation to our current year operations)."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"We transact business globally in multiple currencies and hence have foreign currency risks related to our revenue, costs of revenue and operating expenses denominated in currencies other than the U.S. dollar (primarily the Chinese yuan and euro in relation to our current year operations)."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"V","cik":"0001403161","rowId":"","companyName":"VISA INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"In May 2025, we issued Euro-denominated fixed-rate senior notes in a public offering in an aggregate principal amount of €3.5 billion ($3.9 billion), with maturities ranging between 3 and 19 years."},"evidence":[{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"In May 2025, we issued Euro-denominated fixed-rate senior notes in a public offering in an aggregate principal amount of €3.5 billion ($3.9 billion), with maturities ranging between 3 and 19 years."},{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"We are further exposed to foreign currency exchange rate risk related to translation as the functional currency of Visa Europe is the Euro."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2024, approximately $30.5 billion, or 20.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"Euro FX: total open interest decreased","description":"Net positioning increased by 1,462 contracts. 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WTI is a benchmark research link; the filing may describe other crude grades, regions, or pricing arrangements.","reviewQuestion":"Is the company a producer or buyer, and how do its grades, regions, and hedges compare with WTI?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We explore for, produce, transport and market crude oil, bitumen, natural gas, NGLs and LNG on a worldwide basis."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We explore for, produce, transport and market crude oil, bitumen, natural gas, NGLs and LNG on a worldwide basis."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We are the largest crude oil producer in Alaska and have major ownership interests in the Prudhoe Bay, Kuparuk and Western North Slope asset areas."}]},"relatedCompanies":[{"ticker":"COP","cik":"0001163165","rowId":"","companyName":"CONOCOPHILLIPS","candidate":{"label":"WTI Physical Crude Oil","reason":"The SEC annual filing contains a business or financial-risk passage mentioning crude. WTI is a benchmark research link; the filing may describe other crude grades, regions, or pricing arrangements.","reviewQuestion":"Is the company a producer or buyer, and how do its grades, regions, and hedges compare with WTI?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We explore for, produce, transport and market crude oil, bitumen, natural gas, NGLs and LNG on a worldwide basis."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We explore for, produce, transport and market crude oil, bitumen, natural gas, NGLs and LNG on a worldwide basis."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We are the largest crude oil producer in Alaska and have major ownership interests in the Prudhoe Bay, Kuparuk and Western North Slope asset areas."}]}},{"ticker":"CVX","cik":"0000093410","rowId":"","companyName":"CHEVRON CORP","candidate":{"label":"WTI Physical Crude Oil","reason":"The SEC annual filing contains a business or financial-risk passage mentioning crude. WTI is a benchmark research link; the filing may describe other crude grades, regions, or pricing arrangements.","reviewQuestion":"Is the company a producer or buyer, and how do its grades, regions, and hedges compare with WTI?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"The company sells crude oil, natural gas, and NGLs from its producing operations under a variety of contractual obligations."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"The company sells crude oil, natural gas, and NGLs from its producing operations under a variety of contractual obligations."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Chevron’s 2025 net daily production in the Permian Basin averaged 435,000 barrels of crude oil, 280,000 barrels of NGLs and 1.8 billion cubic feet of natural gas."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"WTI Physical Crude Oil","reason":"The SEC annual filing contains a business or financial-risk passage mentioning crude. WTI is a benchmark research link; the filing may describe other crude grades, regions, or pricing arrangements.","reviewQuestion":"Is the company a producer or buyer, and how do its grades, regions, and hedges compare with WTI?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"• acts of war, terrorism or civil unrest that could impair our ability to produce refined products, receive feedstocks or to gather, process, fractionate or transport crude oil, natural gas, NGLs, refined products or renewable diesel and other renewable fuels;"},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"• acts of war, terrorism or civil unrest that could impair our ability to produce refined products, receive feedstocks or to gather, process, fractionate or transport crude oil, natural gas, NGLs, refined products or renewable diesel and other renewable fuels;"},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"• Refining & Marketing – refines crude oil and other feedstocks at our refineries in the Gulf Coast, Mid-Continent and West Coast regions of the United States, purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution and marketing services provided largely by our Midstream segment."}]}},{"ticker":"UNP","cik":"0000100885","rowId":"","companyName":"UNION PACIFIC CORP","candidate":{"label":"WTI Physical Crude Oil","reason":"The SEC annual filing contains a business or financial-risk passage mentioning crude. WTI is a benchmark research link; the filing may describe other crude grades, regions, or pricing arrangements.","reviewQuestion":"Is the company a producer or buyer, and how do its grades, regions, and hedges compare with WTI?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"In addition, other factors, such as geopolitical instability or changes in trade policies that may affect economic activity and demand for rail transportation; natural gas prices, weather conditions, and demand for other energy sources may impact the coal market; crude oil prices and spreads may drive demand for petroleum products and drilling materials; available truck capacity could impact our intermodal business; and international trade agreements could promote or hinder trade."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"In addition, other factors, such as geopolitical instability or changes in trade policies that may affect economic activity and demand for rail transportation; natural gas prices, weather conditions, and demand for other energy sources may impact the coal market; crude oil prices and spreads may drive demand for petroleum products and drilling materials; available truck capacity could impact our intermodal business; and international trade agreements could promote or hinder trade."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"WTI Physical Crude Oil","reason":"The SEC annual filing contains a business or financial-risk passage mentioning crude. WTI is a benchmark research link; the filing may describe other crude grades, regions, or pricing arrangements.","reviewQuestion":"Is the company a producer or buyer, and how do its grades, regions, and hedges compare with WTI?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"The majority of the crude oil purchased under our term contracts is purchased at the producer’s official stated price (i.e., the “market” price established by the seller for all purchasers) and not at a negotiated price specific to us."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"The majority of the crude oil purchased under our term contracts is purchased at the producer’s official stated price (i.e., the “market” price established by the seller for all purchasers) and not at a negotiated price specific to us."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"We own logistics assets (crude oil pipelines, product pipelines, terminals, tanks, marine docks, truck rack bays, and other assets) that support our refining operations and export capabilities."}]}}],"reportDate":"2026-09-22","priorDate":"2026-09-15","title":"WTI Physical Crude Oil: total open interest decreased","description":"Net positioning decreased by 4,451 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]},"relatedCompanies":[{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company has also issued foreign currency denominated long-term debt as partial hedges of its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro, Japanese yen and Swiss franc."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The impact to income from realized activity for the year ended December 31, 2025 was primarily driven by realized gains from our Mexican peso and Japanese yen-denominated hedges, partially offset by realized losses from our South Korean won and Chinese yuan-denominated hedges."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Currently, we hedge certain anticipated foreign currency cash flows, primarily anticipated revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, we had foreign currency contracts denominated principally in British pound sterling, Canadian dollar, euro and Japanese yen, with an aggregate notional amount of $1.4 billion."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"In addition, our purchases of flash-based memory from Flash Ventures and our investment in Flash Ventures are denominated in Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"In addition, our purchases of flash-based memory from Flash Ventures and our investment in Flash Ventures are denominated in Japanese yen."},{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"If the Japanese yen appreciates against the U.S. dollar, our cost of purchasing flash-based memory wafers and the cost to us of future capital funding of Flash Ventures would increase."}]}}],"reportDate":"2026-09-15","priorDate":"2026-09-08","title":"Japanese Yen: Leveraged Funds net share increased","description":"Net positioning increased by 72,268 contracts. 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These are different exposures.","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company's digital assets products consist of Bitcoin ETPs listed in the US, Canada, Europe, the United Kingdom (\"UK\"), and Australia, and an Ethereum ETP listed in the US."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company's digital assets products consist of Bitcoin ETPs listed in the US, Canada, Europe, the United Kingdom (\"UK\"), and Australia, and an Ethereum ETP listed in the US."}]},"relatedCompanies":[{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Bitcoin Futures","reason":"The SEC annual filing contains a business or financial-risk passage mentioning bitcoin. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does the company own bitcoin, earn related fees, or incur mining costs? These are different exposures.","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company's digital assets products consist of Bitcoin ETPs listed in the US, Canada, Europe, the United Kingdom (\"UK\"), and Australia, and an Ethereum ETP listed in the US."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company's digital assets products consist of Bitcoin ETPs listed in the US, Canada, Europe, the United Kingdom (\"UK\"), and Australia, and an Ethereum ETP listed in the US."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"Bitcoin Futures","reason":"The SEC annual filing contains a business or financial-risk passage mentioning bitcoin. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does the company own bitcoin, earn related fees, or incur mining costs? These are different exposures.","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Other (expense) income, net, changed unfavorably by $1.11 billion in the year ended December 31, 2025 as compared to the year ended December 31, 2024 primarily due to mark-to-market on our bitcoin digital assets and fluctuations in foreign currency exchange rates on our intercompany balances."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Other (expense) income, net, changed unfavorably by $1.11 billion in the year ended December 31, 2025 as compared to the year ended December 31, 2024 primarily due to mark-to-market on our bitcoin digital assets and fluctuations in foreign currency exchange rates on our intercompany balances."}]}}],"reportDate":"2026-09-15","priorDate":"2026-09-08","title":"Bitcoin Futures: Leveraged Funds net share increased","description":"Net positioning increased by 1,538 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products, (iii) copper wire and optical fiber and (iv) plastic materials."}]},"relatedCompanies":[{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products, (iii) copper wire and optical fiber and (iv) plastic materials."}]}},{"ticker":"MRVL","cik":"0001835632","rowId":"","companyName":"Marvell Technology, Inc.","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"LPO modules enabled by our chipsets provide higher bandwidth and greater reach than copper cable interconnects, with optimal latency and power consumption."},"evidence":[{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"LPO modules enabled by our chipsets provide higher bandwidth and greater reach than copper cable interconnects, with optimal latency and power consumption."},{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"We are also subject to risk from increasing or fluctuating market prices of certain commodity raw materials, including gold and copper, which are incorporated into our end products or used by our suppliers to manufacture our end products."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"• A substantial or extended decline in gold, copper, silver, lead or zinc prices would have a material adverse effect on us."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Copper Decommissioning While building the network of the future, we are actively working to exit our legacy copper network operations across the large majority of our wireline footprint."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Copper Decommissioning While building the network of the future, we are actively working to exit our legacy copper network operations across the large majority of our wireline footprint."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We offer legacy voice and other transitional services comprised of copper-based voice and data, Virtual Private Networks (VPN), wholesale, outsourcing and IP sales."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"Allegations related to lead sheathed copper cables in our copper network infrastructure could expose us to regulatory scrutiny, litigation, penalties, removal and compliance costs, operational impact or reputational damage."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"Allegations related to lead sheathed copper cables in our copper network infrastructure could expose us to regulatory scrutiny, litigation, penalties, removal and compliance costs, operational impact or reputational damage."}]}}],"reportDate":"2026-09-15","priorDate":"2026-09-08","title":"Copper No. 1: Managed Money net share decreased","description":"Net positioning decreased by 17,048 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]},"relatedCompanies":[{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"As of December 31, 2025, we had outstanding euro- and pound-sterling-denominated debt with both a principal carrying value and a fair value of $2.5 billion."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We face exposure to movements in foreign currency exchange rates as the financial results and the financial condition of our businesses outside of the U.S., which represent a substantial majority of our financial results, are translated from local currencies (principally Euros and British Pounds Sterling) into U.S."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company’s revenue and expense generated in foreign currencies (primarily the euro and British pound) are impacted by foreign exchange rates."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"• In June 2025, we established an additional commercial paper program, under which we may issue, repay and re-issue short-term unsecured commercial paper notes (“CPNs”) denominated in British pound sterling, euros or U.S. dollars in an aggregate amount of up to €1.0 billion (or its equivalent in other currencies)."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"TXN","cik":"0000097476","rowId":"","companyName":"TEXAS INSTRUMENTS INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"As of December 31, 2025, we had forward currency exchange contracts outstanding with a notional value of $675 million to hedge net balance sheet exposures (including $174 million to sell Malaysian ringgit, $169 million to buy Indian rupee and $107 million to sell British pounds)."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"As of December 31, 2025, we had forward currency exchange contracts outstanding with a notional value of $675 million to hedge net balance sheet exposures (including $174 million to sell Malaysian ringgit, $169 million to buy Indian rupee and $107 million to sell British pounds)."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"Our forward foreign currency exchange contracts outstanding as of December 31, 2025, had a notional value of $ 675 million to hedge our non-U.S. dollar net balance sheet exposures, including $ 174 million to sell Malaysian ringgit, $ 169 million to buy Indian rupee and $ 107 million to sell British pounds."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2024, approximately $30.5 billion, or 20.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."}]}}],"reportDate":"2026-09-15","priorDate":"2026-09-08","title":"British Pound: Leveraged Funds net share decreased","description":"Net positioning decreased by 15,749 contracts. 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The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},"evidence":[{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"Macroeconomic conditions, including inflation, interest rates and currency fluctuations, have directly and indirectly impacted, and could in the future materially impact, the Company’s results of operations and financial condition."}]},"relatedCompanies":[{"ticker":"AAPL","cik":"0000320193","rowId":"","companyName":"Apple Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},"evidence":[{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"Macroeconomic conditions, including inflation, interest rates and currency fluctuations, have directly and indirectly impacted, and could in the future materially impact, the Company’s results of operations and financial condition."}]}},{"ticker":"ABBV","cik":"0001551152","rowId":"","companyName":"AbbVie Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"• changes in the rate of inflation (including the cost of raw materials, commodities and supplies), interest rates, market value of AbbVie's equity investments and the performance of investments held by it or its employee benefit trusts;"},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"• changes in the rate of inflation (including the cost of raw materials, commodities and supplies), interest rates, market value of AbbVie's equity investments and the performance of investments held by it or its employee benefit trusts;"},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company is exposed to risk that its earnings, cash flows and equity could be adversely impacted by changes in foreign exchange rates and interest rates."}]}},{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• instability of global credit and financial markets due to uncertainty and adverse macroeconomic conditions such as inflation, tariffs and trade restrictions, high interest rates, bank failures and slower economic growth or recession that could, among other impacts, affect our ability to timely access external financing sources on acceptable terms or lead to financial difficulties or uncertainty of our customers, suppliers and distributors exposing us to late payments, cancelled orders and inventory challenges;"},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• instability of global credit and financial markets due to uncertainty and adverse macroeconomic conditions such as inflation, tariffs and trade restrictions, high interest rates, bank failures and slower economic growth or recession that could, among other impacts, affect our ability to timely access external financing sources on acceptable terms or lead to financial difficulties or uncertainty of our customers, suppliers and distributors exposing us to late payments, cancelled orders and inventory challenges;"},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• the effects of adverse economic or geopolitical conditions in the markets in which we sell our products, including inflationary pressures, which has resulted, and may continue to result, in increased interest rates, fuel prices, wages and other costs;"}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our business and the industries in which we operate can be impacted by uncertain or adverse economic and business conditions, including uncertainties and volatility in the financial markets, national debt, fiscal or monetary concerns, inflation and changes in interest rates, bank failures, tariffs and trade policies and economic recession."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our business and the industries in which we operate can be impacted by uncertain or adverse economic and business conditions, including uncertainties and volatility in the financial markets, national debt, fiscal or monetary concerns, inflation and changes in interest rates, bank failures, tariffs and trade policies and economic recession."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our investment portfolio is subject to general credit, liquidity, market and interest rate risks, which may be exacerbated by rising inflation, rising interest rates, bank failures or economic recession and the value and liquidity of our portfolio and returns on pension assets could be negatively impacted and lead to impairment charges."}]}},{"ticker":"AMD","cik":"0000002488","rowId":"","companyName":"ADVANCED MICRO DEVICES INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"Uncertainty in the economic environment or other unfavorable changes in economic conditions, such as inflation, fluctuating interest rates, recession, slowing growth, increased unemployment, tighter credit markets, changes or uncertainty in fiscal monetary or trade policy, implementation of new or increased tariffs, retaliatory tariffs by other countries or other trade restrictions, or currency fluctuations, may negatively impact consumer confidence and spending causing our customers to stop or postpone purchases."},"evidence":[{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"Uncertainty in the economic environment or other unfavorable changes in economic conditions, such as inflation, fluctuating interest rates, recession, slowing growth, increased unemployment, tighter credit markets, changes or uncertainty in fiscal monetary or trade policy, implementation of new or increased tariffs, retaliatory tariffs by other countries or other trade restrictions, or currency fluctuations, may negatively impact consumer confidence and spending causing our customers to stop or postpone purchases."},{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"The trading price of our stock may fluctuate widely due to various factors including: actual or anticipated fluctuations in our financial conditions and operating results; failure to meet expectations related to future growth; changes in financial estimates by us or financial estimates and ratings by securities analysts; changes in our capital structure, including issuance of additional debt or equity to the public; competitive landscape; news regarding our products or products of our competitors or other actions taken by competitors; broad market industry and competitor-related fluctuations; and general economic, political and market conditions, including imposition of new or increased tariffs and other trade restrictions, interest rate changes and inflation."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"The value of our investments may also be adversely affected by interest rate fluctuations, inflation, downgrades in credit ratings, illiquidity in the capital markets, geopolitical events and other factors that may result in other-than-temporary declines in the value of our investments."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"The value of our investments may also be adversely affected by interest rate fluctuations, inflation, downgrades in credit ratings, illiquidity in the capital markets, geopolitical events and other factors that may result in other-than-temporary declines in the value of our investments."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"Uncertain macroeconomic conditions, including the risk of inflation, fluctuating interest rates and instability in the financial system, as well as rising healthcare costs, continue to pose challenges to our business."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In addition, economic conditions and actions by policymaking bodies are contributing to changing interest rates and significant capital market volatility, which, along with any increases in our borrowing levels, could increase our future borrowing costs."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In addition, economic conditions and actions by policymaking bodies are contributing to changing interest rates and significant capital market volatility, which, along with any increases in our borrowing levels, could increase our future borrowing costs."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Macroeconomic factors, including changes in inflation and interest rates, resource and supply volatility, global economic and geopolitical developments, including unpredictable shifts in global tariff and trade policies, and the development and adoption of technologies and services, including artificial intelligence, have direct and indirect impacts on our results of operations that are difficult to predict, isolate, and quantify."}]}},{"ticker":"ANET","cik":"0001596532","rowId":"","companyName":"Arista Networks, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"• disruptions in our business due to general economic and market conditions, such as recessionary risks and a global economic downturn, international trade tensions and tariff policies, higher interest rates, monetary policy shifts, inflationary pressures, supply chain and labor shortages, changes in government administration, and geopolitical pressures;"},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"• disruptions in our business due to general economic and market conditions, such as recessionary risks and a global economic downturn, international trade tensions and tariff policies, higher interest rates, monetary policy shifts, inflationary pressures, supply chain and labor shortages, changes in government administration, and geopolitical pressures;"},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"We expect other income (expense), net may fluctuate in the future as a result of changes in interest rates, changes in our cash, cash equivalents and marketable securities balances."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company is subject to interest rate volatility with regard to existing and future issuances of debt."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company is subject to interest rate volatility with regard to existing and future issuances of debt."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"As of December  31, 2025, 3% of the Company’s outstanding borrowings were subject to floating interest rates."}]}},{"ticker":"AVGO","cik":"0001730168","rowId":"","companyName":"Broadcom Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"A general weakening of the economy globally or in a particular region or industry, uncertainty and volatility in financial markets, efforts of governments to stimulate or stabilize the economy or to achieve specific policy objectives such as onshoring of semiconductor manufacturing and other unfavorable changes in economic conditions, such as inflation, higher interest rates, tightening of the credit markets, recession or slowing growth, as well as an increase in trade tensions and related tariffs with U.S. trading partners, could negatively impact our business, financial condition, cash flows and liquidity."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"A general weakening of the economy globally or in a particular region or industry, uncertainty and volatility in financial markets, efforts of governments to stimulate or stabilize the economy or to achieve specific policy objectives such as onshoring of semiconductor manufacturing and other unfavorable changes in economic conditions, such as inflation, higher interest rates, tightening of the credit markets, recession or slowing growth, as well as an increase in trade tensions and related tariffs with U.S. trading partners, could negatively impact our business, financial condition, cash flows and liquidity."},{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"In addition, the current market volatility may adversely impact our ability to manage our debt, including through borrowing at favorable interest rates or due to reduced cash flows."}]}},{"ticker":"AXP","cik":"0000004962","rowId":"","companyName":"AMERICAN EXPRESS CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"• providing incentives to drive spending on our various card products and increase customer engagement, including our Membership Rewards ® and Amex Offers ™ programs, cash-back reward features, statement credits for purchases with partners, interest rates offered on deposits and participation in loyalty programs sponsored by our cobrand and other partners;"},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"• providing incentives to drive spending on our various card products and increase customer engagement, including our Membership Rewards ® and Amex Offers ™ programs, cash-back reward features, statement credits for purchases with partners, interest rates offered on deposits and participation in loyalty programs sponsored by our cobrand and other partners;"},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"Factors such as consumer spending and confidence, household income and housing prices, levels of unemployment and underemployment, business investment and inventory levels, bankruptcies, geopolitical instability, public policy decisions and uncertainty, government spending and debt, international trade relationships, tariffs, interest rates, taxes, inflation and deflation (including the effects of related governmental responses), impacts of new technologies, energy costs and availability of capital and credit all affect the economic environment and, ultimately, our profitability."}]}},{"ticker":"BA","cik":"0000012927","rowId":"","companyName":"BOEING CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations."},"evidence":[{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations."},{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"Therefore, exposure to interest rate risk is not believed to be material for our fixed-rate debt."}]}},{"ticker":"BAC","cik":"0000070858","rowId":"","companyName":"BANK OF AMERICA CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"This can affect interest rates and the value of financial instruments and other assets, such as debt securities, and impact our borrowers and potentially increase delinquency rates and may also raise government debt levels, adversely affect businesses and household incomes, adversely impact the banking sector generally, and increase uncertainty surrounding monetary policy."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"This can affect interest rates and the value of financial instruments and other assets, such as debt securities, and impact our borrowers and potentially increase delinquency rates and may also raise government debt levels, adversely affect businesses and household incomes, adversely impact the banking sector generally, and increase uncertainty surrounding monetary policy."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"Any future change in monetary policy by the Federal Reserve, in an effort to stimulate the economy or otherwise, resulting in lower interest rates would typically result in lower revenue through lower net interest income, which could adversely affect our results of operations."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We have exposure to several types of market risk, including changes in interest rates, foreign currency exchange rates, and equity prices."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We have exposure to several types of market risk, including changes in interest rates, foreign currency exchange rates, and equity prices."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We manage our exposure to interest rate risk and foreign currency risk through internally established policies and procedures and, when deemed appropriate, through the use of derivative financial instruments."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"BlackRock employs a conservative investment style for cash and securities lending collateral that emphasizes quality, liquidity, and interest rate risk management."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"BlackRock employs a conservative investment style for cash and securities lending collateral that emphasizes quality, liquidity, and interest rate risk management."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The rules require many market participants, including a large number of BlackRock funds and accounts, to clear Treasury repurchase transactions and potentially certain cash Treasury securities transactions through a clearing agency registered with the SEC, which could increase transaction costs for BlackRock’s clients."}]}},{"ticker":"BMY","cik":"0000014272","rowId":"","companyName":"BRISTOL MYERS SQUIBB CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Our investment portfolio includes marketable debt securities, which are subject to changes in fair value as a result of interest rate fluctuations and other market factors."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Our investment portfolio includes marketable debt securities, which are subject to changes in fair value as a result of interest rate fluctuations and other market factors."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Any credit rating downgrade may affect the interest rate of any debt we may incur, the fair market value of existing debt and our ability to access the capital markets generally."}]}},{"ticker":"BRK-B","cik":"0001067983","rowId":"","companyName":"BERKSHIRE HATHAWAY INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Our significant market risks are primarily associated with equity prices, interest rates, foreign currency exchange rates and commodity prices."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Our significant market risks are primarily associated with equity prices, interest rates, foreign currency exchange rates and commodity prices."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"We also invest in bonds, loans or other interest rate sensitive instruments."}]}},{"ticker":"C","cik":"0000831001","rowId":"","companyName":"CITIGROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"Citigroup’s Asset and Liability Committee (ALCO) establishes Citi’s risk appetite and related limits for interest rate risk in the Banking Book, which are subject to approval by Citigroup’s Board of Directors."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"Citigroup’s Asset and Liability Committee (ALCO) establishes Citi’s risk appetite and related limits for interest rate risk in the Banking Book, which are subject to approval by Citigroup’s Board of Directors."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"AOCI at risk is managed as part of the Company-wide interest rate risk position."}]}},{"ticker":"CAT","cik":"0000018230","rowId":"","companyName":"CATERPILLAR INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"In addition, many of the manufacturers that compete with Caterpillar also own financial subsidiaries, such as John Deere Capital Corporation, Komatsu Financial L.P., Volvo Financial Services and Kubota Credit Corporation, which utilize many below-market interest rate programs (funded by the manufacturer) to support machine sales."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"In addition, many of the manufacturers that compete with Caterpillar also own financial subsidiaries, such as John Deere Capital Corporation, Komatsu Financial L.P., Volvo Financial Services and Kubota Credit Corporation, which utilize many below-market interest rate programs (funded by the manufacturer) to support machine sales."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"The demand for our products and services tends to be cyclical and can be significantly reduced in periods of economic weakness characterized by lower levels of government and business investment, lower levels of business confidence, lower corporate earnings, high real interest rates, lower credit activity or tighter credit conditions, perceived or actual industry overcapacity, higher unemployment and lower consumer spending."}]}},{"ticker":"CB","cik":"0000896159","rowId":"","companyName":"Chubb Ltd","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Our pricing, establishment of liabilities for life insurance and annuity products, including reinsurance programs, are based upon various assumptions, including equity market changes, interest rates, mortality rates, morbidity rates, and policyholder behavior."},"evidence":[{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Our pricing, establishment of liabilities for life insurance and annuity products, including reinsurance programs, are based upon various assumptions, including equity market changes, interest rates, mortality rates, morbidity rates, and policyholder behavior."},{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Under long-duration targeted improvements (LDTI), the accounting for our FPB reserves is also sensitive to changing interest rate conditions."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"• Fluctuations in interest rates could adversely affect our business, results of operations and financial condition."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"• Fluctuations in interest rates could adversely affect our business, results of operations and financial condition."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"Changes in interest rates could adversely affect the results of our operations and financial condition."}]}},{"ticker":"COP","cik":"0001163165","rowId":"","companyName":"CONOCOPHILLIPS","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We and certain of our subsidiaries hold and issue derivative contracts and financial instruments that expose our cash flows or earnings to changes in commodity prices, foreign currency exchange rates or interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We and certain of our subsidiaries hold and issue derivative contracts and financial instruments that expose our cash flows or earnings to changes in commodity prices, foreign currency exchange rates or interest rates."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We may use financial and commodity-based derivative contracts to manage the risks produced by changes in the prices of natural gas, crude oil and related products; fluctuations in interest rates and foreign currency exchange rates; or to capture market opportunities."}]}},{"ticker":"COST","cik":"0000909832","rowId":"","companyName":"COSTCO WHOLESALE CORP /NEW","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Higher energy and gasoline costs, inflation, levels of unemployment, healthcare costs, consumer debt levels, foreign-currency exchange rates, unsettled financial markets, weaknesses in housing and real estate markets, reduced consumer confidence, changes and uncertainties related to government fiscal, monetary and tax policies including changes in interest rates, tax rates, duties, tariffs, or other restrictions, sovereign debt crises, pandemics and other health crises, and other economic factors could adversely affect demand for our products and services, require a change in product mix, or impact the cost of or ability to purchase inventory."},"evidence":[{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Higher energy and gasoline costs, inflation, levels of unemployment, healthcare costs, consumer debt levels, foreign-currency exchange rates, unsettled financial markets, weaknesses in housing and real estate markets, reduced consumer confidence, changes and uncertainties related to government fiscal, monetary and tax policies including changes in interest rates, tax rates, duties, tariffs, or other restrictions, sovereign debt crises, pandemics and other health crises, and other economic factors could adversely affect demand for our products and services, require a change in product mix, or impact the cost of or ability to purchase inventory."},{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Our exposure to financial market risk results from fluctuations in interest rates and foreign-currency exchange rates."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Any new or refinanced debt may be subject to substantially higher interest rates, which could adversely affect our financial condition and impact our business."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Any new or refinanced debt may be subject to substantially higher interest rates, which could adversely affect our financial condition and impact our business."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Our quarterly results have fluctuated, and are likely to fluctuate in the future, as a result of a number of known and unknown factors, including: the factors described in this Item 1, Part 1A of this Annual Report; the cyclical nature and seasonality of our sales cycle and our customers’ businesses, especially our Commerce service offering customers; the global economic impact of geopolitical events, including ongoing conflicts and uncertainty about the interest rate environment; the timing of contract execution and term software license sales; the amount and timing of operating costs and capital expenditures related to the operations and expansion of our business; the timing of commission, bonus and other compensation payments to"}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"Any refinancing of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"Any refinancing of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"We do not have any outstanding derivative financial instruments, off-balance sheet guarantees, interest rate swap transactions, or foreign currency forward contracts."}]}},{"ticker":"CSCO","cik":"0000858877","rowId":"","companyName":"CISCO SYSTEMS, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"Risk Factors,” including the risk factor entitled “We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings.”"},"evidence":[{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"Risk Factors,” including the risk factor entitled “We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings.”"},{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings."}]}},{"ticker":"CVS","cik":"0000064803","rowId":"","companyName":"CVS HEALTH Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"The RBC Model Act sets forth the formula for calculating RBC requirements, which are designed to take into account asset risks, insurance risks, interest rate risks and other relevant risks with respect to an individual company’s business."},"evidence":[{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"The RBC Model Act sets forth the formula for calculating RBC requirements, which are designed to take into account asset risks, insurance risks, interest rate risks and other relevant risks with respect to an individual company’s business."},{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"Adverse economic conditions in the U.S. and abroad, including those caused by inflation, high interest rates, declines in consumer confidence, increases in unemployment and supply chain disruptions, all of which we have experienced over the last number of years, can materially and adversely impact our businesses, operating results, cash flows and financial condition, including:"}]}},{"ticker":"CVX","cik":"0000093410","rowId":"","companyName":"CHEVRON CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest Rates The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest Rates The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest rate swaps related to a portion of the company’s fixed-rate debt, if any, may be accounted for as fair value hedges."}]}},{"ticker":"DE","cik":"0000315189","rowId":"","companyName":"DEERE & CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"The demand for our products and services depends on the fundamentals in the markets in which we operate and can be significantly reduced in an economic environment characterized by high unemployment, high interest rates, cautious consumer spending, inflation, lower corporate earnings, and lower business investment, all of which affect farmers’ income and sentiment."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"The demand for our products and services depends on the fundamentals in the markets in which we operate and can be significantly reduced in an economic environment characterized by high unemployment, high interest rates, cautious consumer spending, inflation, lower corporate earnings, and lower business investment, all of which affect farmers’ income and sentiment."},{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"Changes in interest rates or market liquidity conditions, as well as changes in government banking, monetary and fiscal policies, could adversely affect our financials and our earnings and/or cash flows."}]}},{"ticker":"DELL","cik":"0001571996","rowId":"","companyName":"Dell Technologies Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The results of these operations are allocated to our segments based on the underlying product or service financed and may be impacted by, among other factors, changes in the interest rate environment and the translation of those changes to pricing."},"evidence":[{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The results of these operations are allocated to our segments based on the underlying product or service financed and may be impacted by, among other factors, changes in the interest rate environment and the translation of those changes to pricing."},{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"Adverse economic conditions may negatively affect customer demand, and could result in postponed or decreased spending amid customer concerns over elevated inflation and interest rates or slowing demand for our products, reduced asset values, volatile energy costs, the availability and cost of credit, and the stability of financial institutions, financial markets, businesses, local and state governments, and sovereign nations."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Our debt level and related debt service obligations can have negative consequences, including (1) requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes such as acquisitions and other investments; (2) reducing our flexibility in planning for or reacting to changes in our business and market conditions; and (3) exposing us to interest rate risk on any variable rate debt we may issue, particularly in light of increases in interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Our debt level and related debt service obligations can have negative consequences, including (1) requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes such as acquisitions and other investments; (2) reducing our flexibility in planning for or reacting to changes in our business and market conditions; and (3) exposing us to interest rate risk on any variable rate debt we may issue, particularly in light of increases in interest rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"If our credit ratings are downgraded or put on watch for a potential downgrade, we may not be able to sell additional debt securities or borrow money in the amounts, at the times or interest rates or upon the more favorable terms and conditions that might be available if our current credit ratings were maintained."}]}},{"ticker":"DIS","cik":"0001744489","rowId":"","companyName":"Walt Disney Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"While a number of different factors affect the demand for our products and services, actual or perceived declines in economic conditions typically have impacts across our businesses, including, among others, lower attendance and spending at our parks and experiences businesses, fees received for our cable programming and DTC services, including as a result of declines in subscription levels, purchases of and prices for advertising on our DTC services and linear networks or licensing fees, while in the case of inflationary conditions, also increasing the prices we pay for goods, services and labor, as well as typically our borrowing costs due to elevated interest rates, making it more difficult to obtain financing for our operations and investments on favorable terms."},"evidence":[{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"While a number of different factors affect the demand for our products and services, actual or perceived declines in economic conditions typically have impacts across our businesses, including, among others, lower attendance and spending at our parks and experiences businesses, fees received for our cable programming and DTC services, including as a result of declines in subscription levels, purchases of and prices for advertising on our DTC services and linear networks or licensing fees, while in the case of inflationary conditions, also increasing the prices we pay for goods, services and labor, as well as typically our borrowing costs due to elevated interest rates, making it more difficult to obtain financing for our operations and investments on favorable terms."},{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"Potential credit ratings actions, increases in interest rates, volatility in the U.S. and global financial markets or periods of elevated indebtedness could impede access to, or increase the cost of, financing our operations and investments and have the effect of decreasing of business flexibility."}]}},{"ticker":"ETN","cik":"0001551182","rowId":"","companyName":"Eaton Corp plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"As most leases do not provide an implicit interest rate, Eaton typically uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"As most leases do not provide an implicit interest rate, Eaton typically uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"In the normal course of business, Eaton is exposed to certain risks related to fluctuations in interest rates, currency exchange rates and commodity prices."}]}},{"ticker":"GE","cik":"0000040545","rowId":"","companyName":"GENERAL ELECTRIC CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"• changes in macroeconomic and market conditions and market volatility (including risks related to recession, inflation, supply chain constraints or disruptions, interest rates, values of financial assets, oil, jet fuel and other commodity prices and exchange rates), and the impact of such changes and volatility on our business operations and financial results;"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"• changes in macroeconomic and market conditions and market volatility (including risks related to recession, inflation, supply chain constraints or disruptions, interest rates, values of financial assets, oil, jet fuel and other commodity prices and exchange rates), and the impact of such changes and volatility on our business operations and financial results;"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"To assess exposure to interest rate risk, we apply a +/- 100 basis points change in interest rates and keep that in place for the next 12 months."}]}},{"ticker":"GEV","cik":"0001996810","rowId":"","companyName":"GE Vernova Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"Our ability to maintain our investment grade credit ratings could affect our ability to access capital, increase our interest rates,"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"Our ability to maintain our investment grade credit ratings could affect our ability to access capital, increase our interest rates,"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"The level of our interest rate risk is"}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Interest Rates and Inflation: We have interest-generating assets and interest-bearing liabilities, including our senior unsecured notes and credit facilities."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Interest Rates and Inflation: We have interest-generating assets and interest-bearing liabilities, including our senior unsecured notes and credit facilities."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"Fluctuations in interest rates could expose us to increased financial risk."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The funded status of our pension plans is dependent upon multiple factors including actuarial assumptions, interest rates at year-end, prior investment returns and contributions made to the plans."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The funded status of our pension plans is dependent upon multiple factors including actuarial assumptions, interest rates at year-end, prior investment returns and contributions made to the plans."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The costs and obligations related to these benefits reflect our assumptions related to general economic conditions (particularly interest rates), expected return on plan assets, rate of compensation increase for employees and health care trend rates."}]}},{"ticker":"GOOGL","cik":"0001652044","rowId":"","companyName":"Alphabet Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"The fair value of our debt and equity investments may in the future be, and certain investments have been in the past, negatively affected by liquidity, credit deterioration or losses, performance and financial results of the underlying entities, foreign exchange rates, changes in interest rates, the effect of new or changing regulations, the stock market in general, or other factors."},"evidence":[{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"The fair value of our debt and equity investments may in the future be, and certain investments have been in the past, negatively affected by liquidity, credit deterioration or losses, performance and financial results of the underlying entities, foreign exchange rates, changes in interest rates, the effect of new or changing regulations, the stock market in general, or other factors."},{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"We are exposed to financial market risks, including changes in foreign currency exchange rates, interest rates, and equity investment risks."}]}},{"ticker":"GS","cik":"0000886982","rowId":"","companyName":"GOLDMAN SACHS GROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"We conduct a number of our activities partially or entirely through GS Bank USA and its subsidiaries, including: corporate loans (including leveraged lending); securities-based and collateralized loans; credit card loans; residential mortgages; transaction banking; deposit-taking; interest rate, credit, currency and other derivatives; and agency lending."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"We conduct a number of our activities partially or entirely through GS Bank USA and its subsidiaries, including: corporate loans (including leveraged lending); securities-based and collateralized loans; credit card loans; residential mortgages; transaction banking; deposit-taking; interest rate, credit, currency and other derivatives; and agency lending."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"Statements about the projected growth of our deposits and other funding are subject to the risk that actual growth, savings and profitability may differ, possibly materially, from that currently anticipated due to, among other things, changes in interest rates and competition from other similar products."}]}},{"ticker":"HD","cik":"0000354950","rowId":"","companyName":"HOME DEPOT, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"Our comparable sales results reflect customer engagement with smaller home improvement projects, which was offset by the impact of continued macroeconomic uncertainties and other macroeconomic factors, including a persisting high interest rate environment, that continue to pressure broader home improvement demand."},"evidence":[{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"Our comparable sales results reflect customer engagement with smaller home improvement projects, which was offset by the impact of continued macroeconomic uncertainties and other macroeconomic factors, including a persisting high interest rate environment, that continue to pressure broader home improvement demand."},{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"At February 1, 2026, we had outstanding borrowings under our commercial paper program of $4.5 billion with a weighted average interest rate of 3.7%."}]}},{"ticker":"IBM","cik":"0000051143","rowId":"","companyName":"INTERNATIONAL BUSINESS MACHINES CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"Further, inherent in the company’s financing business are risks related to the concentration of credit, client creditworthiness, interest rate and currency fluctuations on the associated debt and liabilities and the determination of residual values."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"Further, inherent in the company’s financing business are risks related to the concentration of credit, client creditworthiness, interest rate and currency fluctuations on the associated debt and liabilities and the determination of residual values."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"The value of the company’s debt securities fluctuates based on many factors, including the methods employed for calculating principal and interest, the maturity of the securities, the aggregate principal amount of securities outstanding, the redemption features for the securities, the level, direction and volatility of interest rates, changes in exchange rates, exchange controls, governmental and stock exchange regulations and other factors over which the company has little or no control."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are affected by changes in currency exchange and interest rates, as well as equity and commodity prices."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are affected by changes in currency exchange and interest rates, as well as equity and commodity prices."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are exposed to currency exchange risks of non-U.S.-dollar-denominated investments in debt and equity instruments, and may economically hedge these risks with foreign currency contracts, such as currency forward contracts, currency swaps or interest rate swaps."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: the overall macroeconomic environment, which may impact customer spending and our costs, including tariffs, the levels of inflation, and interest rates; the conflict between Ukraine and Russia; conflicts in the Middle East; disruption to our supply chain, including difficulties in obtaining a sufficient supply of materials; curtailed or delayed capital spending by hospitals; the impact of global and regional economic and credit market conditions on healthcare spending; delays in obtaining new product approvals, clearances, or certifications from the U.S."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: the overall macroeconomic environment, which may impact customer spending and our costs, including tariffs, the levels of inflation, and interest rates; the conflict between Ukraine and Russia; conflicts in the Middle East; disruption to our supply chain, including difficulties in obtaining a sufficient supply of materials; curtailed or delayed capital spending by hospitals; the impact of global and regional economic and credit market conditions on healthcare spending; delays in obtaining new product approvals, clearances, or certifications from the U.S."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"Macroeconomic conditions, such as inflationary pressure, changes to monetary policy, elevated interest rates, volatile currency exchange rates, credit and sovereign debt concerns, concerns about slowed growth in China and other OUS markets, decreasing consumer confidence and spending, including capital spending, the introduction of or changes in tariffs or trade barriers, and global or local recessions can adversely impact demand for our products, which could negatively impact our business, financial condition, or results of operations."}]}},{"ticker":"JNJ","cik":"0000200406","rowId":"","companyName":"JOHNSON & JOHNSON","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"• local and regional economic environments and policies in the markets that we serve, including interest rates, monetary policy, inflation, economic growth, recession, commodity prices, and currency controls or other limitations on the ability to expatriate cash;"},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"• local and regional economic environments and policies in the markets that we serve, including interest rates, monetary policy, inflation, economic growth, recession, commodity prices, and currency controls or other limitations on the ability to expatriate cash;"},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company invests in both fixed rate and floating rate interest earning securities which carry a degree of interest rate risk."}]}},{"ticker":"JPM","cik":"0000019617","rowId":"","companyName":"JPMORGAN CHASE & CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"• Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase’s businesses, investments and market-making positions, as well as on its earnings and liquidity and capital levels."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"• Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase’s businesses, investments and market-making positions, as well as on its earnings and liquidity and capital levels."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"In addition, JPMorganChase’s earnings from its consumer businesses could be adversely affected if customer demand for the products and services offered by its consumer businesses is diminished by sustained low growth, low or negative interest rates, inflationary pressures, or recessionary conditions."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks related to fluctuations in interest rates and the market values of our portfolio investments;"},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks related to fluctuations in interest rates and the market values of our portfolio investments;"},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks associated with our interest rate hedging activities;"}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including global inflationary pressures, prevailing interest rates, credit market conditions, increased unemployment, levels of consumer and business confidence, bank failures, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, governmental rules and approaches to taxation, levels of government spending and deficits, and actual or anticipated default on sovereign debt."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including global inflationary pressures, prevailing interest rates, credit market conditions, increased unemployment, levels of consumer and business confidence, bank failures, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, governmental rules and approaches to taxation, levels of government spending and deficits, and actual or anticipated default on sovereign debt."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"If interest rates increase, our net income could be negatively affected."}]}},{"ticker":"LIN","cik":"0001707925","rowId":"","companyName":"LINDE PLC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"As deemed necessary, Linde manages its exposure to interest-rate changes through the use of financial derivatives (see Note 12 to the consolidated financial statements and Item 7A."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"As deemed necessary, Linde manages its exposure to interest-rate changes through the use of financial derivatives (see Note 12 to the consolidated financial statements and Item 7A."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"Under the European debt issuance program, Linde plc may issue unsecured notes with such terms, including currency, interest rate and maturity, as agreed by Linde plc and the purchasers of such notes at the time of sale and as set out in the final terms for the relevant issue of notes."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, and inflation or deflation affect our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, and inflation or deflation affect our results of operations."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, interest rate risk from our exposure to floating and variable interest rates, and existing and expected rates of inflation or deflation in the U.S. and other jurisdictions, each of which impacts our results of operations."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"In addition, we have entered, and in the future may enter, into derivative instrument arrangements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"In addition, we have entered, and in the future may enter, into derivative instrument arrangements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"The fair value of our Senior Notes is subject to interest rate risk and market risk."}]}},{"ticker":"MA","cik":"0001141391","rowId":"","companyName":"Mastercard Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"We do not issue cards, extend credit, determine or receive revenue from interest rates or other fees charged to account holders by issuers, nor do we establish the rates charged by acquirers in connection with merchants’ acceptance of our products."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"We do not issue cards, extend credit, determine or receive revenue from interest rates or other fees charged to account holders by issuers, nor do we establish the rates charged by acquirers in connection with merchants’ acceptance of our products."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"If interchange rates are too low, issuers may stop promoting our products and services, eliminate or reduce loyalty rewards programs or other account holder benefits (e.g., free checking or low interest rates on balances), or charge fees to account holders (e.g., annual fees or late payment fees)."}]}},{"ticker":"MCD","cik":"0000063908","rowId":"","companyName":"MCDONALDS CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company generally borrows on a long-term basis and is exposed to the impact of interest rate changes and foreign currency fluctuations."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company generally borrows on a long-term basis and is exposed to the impact of interest rate changes and foreign currency fluctuations."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company manages its debt portfolio in response to changes in interest rates and foreign currency rates by periodically retiring, redeeming and repurchasing debt, terminating swaps and using derivatives."}]}},{"ticker":"MDT","cik":"0001613103","rowId":"","companyName":"Medtronic plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At the time we may incur such additional indebtedness, or refinance or restructure existing indebtedness, we may be unable to obtain capital market financing with similar terms, interest rates, or currency denomination to our existing indebtedness, or at all, which could have a material adverse effect on our business and results of operations."},"evidence":[{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At the time we may incur such additional indebtedness, or refinance or restructure existing indebtedness, we may be unable to obtain capital market financing with similar terms, interest rates, or currency denomination to our existing indebtedness, or at all, which could have a material adverse effect on our business and results of operations."},{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At any time, the fair value of our debt outstanding will fluctuate based on several factors including foreign currency exchange rate and interest rate movements, credit conditions and our credit rating."}]}},{"ticker":"META","cik":"0001326801","rowId":"","companyName":"Meta Platforms, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"• fluctuations in the market values of our investments in marketable securities, in the valuation of our non-marketable equity investments, and in interest rates;"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"• fluctuations in the market values of our investments in marketable securities, in the valuation of our non-marketable equity investments, and in interest rates;"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We are exposed to market risks, including changes to foreign currency exchange rates, interest rates, and equity price risk."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Disruption and uncertainty in the credit or capital markets or high interest rates could negatively impact the availability or cost of capital and adversely affect our liquidity, cash flow, earnings and dividend rate."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Disruption and uncertainty in the credit or capital markets or high interest rates could negatively impact the availability or cost of capital and adversely affect our liquidity, cash flow, earnings and dividend rate."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Current geopolitical and macroeconomic conditions (including tariffs, inflation, high interest rates, labor shortages, supply and demand imbalances and international armed conflict) and adverse weather events have caused and continue to cause worldwide disruptions and delays to supply chains and commercial markets, and have limited access to, and increased the cost of, raw materials, ingredients and component parts (for example, wood tips used in our cigar products and aluminum used in our packaging)."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Inflation may also result in higher interest rates, which in turn would result in higher interest expense related to our variable rate indebtedness and any borrowings we undertake to refinance existing fixed rate indebtedness."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Inflation may also result in higher interest rates, which in turn would result in higher interest expense related to our variable rate indebtedness and any borrowings we undertake to refinance existing fixed rate indebtedness."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Increases in interest rates could adversely impact our ability to issue equity, refinance existing debt or incur additional debt for acquisitions or other purposes and our ability to pay dividends at our intended levels."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"• The Company is exposed to market risk from fluctuations in currency exchange rates and interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"• The Company is exposed to market risk from fluctuations in currency exchange rates and interest rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"The Company’s business may be adversely affected by local and global economic conditions, including with respect to inflation, interest rates, and costs of raw materials and packaging."}]}},{"ticker":"MRVL","cik":"0001835632","rowId":"","companyName":"Marvell Technology, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"Our margin could also be impacted, for example, by the following factors: increased costs (including increased costs caused by tariffs, inflation, higher interest rates, or supply chain constraints); loss of cost savings if parts ordering does not correctly anticipate product demand or if the financial health of either our manufacturers partners or our suppliers deteriorates; excess inventory, or inventory holding and obsolescence charges."},"evidence":[{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"Our margin could also be impacted, for example, by the following factors: increased costs (including increased costs caused by tariffs, inflation, higher interest rates, or supply chain constraints); loss of cost savings if parts ordering does not correctly anticipate product demand or if the financial health of either our manufacturers partners or our suppliers deteriorates; excess inventory, or inventory holding and obsolescence charges."},{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"In addition, while the Russian invasion of Ukraine has not had a direct material impact on us due to our limited sales to Russia and Ukraine, we are unable to predict the indirect impact this conflict will have on us due to impacts on the supply chain, global and domestic economies, interest rates and stock markets."}]}},{"ticker":"MS","cik":"0000895421","rowId":"","companyName":"MORGAN STANLEY","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Significant changes to interest rates could adversely affect our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Significant changes to interest rates could adversely affect our results of operations."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Our net interest income is sensitive to changes in interest rates, generally resulting in higher net interest income in higher interest rate scenarios and lower net interest income in lower interest rate scenarios."}]}},{"ticker":"MSFT","cik":"0000789019","rowId":"","companyName":"MICROSOFT CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Adverse changes in interest rates, credit markets, investor sentiment, our credit ratings, or other factors affecting capital availability could increase our cost of capital or limit our ability to execute our infrastructure strategy."},"evidence":[{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Adverse changes in interest rates, credit markets, investor sentiment, our credit ratings, or other factors affecting capital availability could increase our cost of capital or limit our ability to execute our infrastructure strategy."},{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Worsening economic conditions, including inflation, recession, pandemic, or other changes in economic conditions, periods of economic uncertainty, evolution of customer demand, technology investment cycles, interest rates, foreign exchange rates, or the timing and mix of customer spending, may cause lower or delayed IT spending and adversely affect our results of operations."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Downturns or ongoing adverse conditions in regional or worldwide economies, due to inflation, geopolitics, changes in government borrowing or spending, trade disputes, war, major central bank policy actions including interest rate increases, public health crises, or other factors, have harmed our business in the past and current and future downturns could also adversely affect our business."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Downturns or ongoing adverse conditions in regional or worldwide economies, due to inflation, geopolitics, changes in government borrowing or spending, trade disputes, war, major central bank policy actions including interest rate increases, public health crises, or other factors, have harmed our business in the past and current and future downturns could also adversely affect our business."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"As a result of our debt levels, expected debt amortization, prevailing interest rates, general capital market, changes in government borrowing or spending, and other economic conditions, it may be difficult for us to obtain financing on terms acceptable to us or at all."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"We are subject to interest rate risk related to the fair value of our senior notes which is wholly comprised of fixed rates at December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"We are subject to interest rate risk related to the fair value of our senior notes which is wholly comprised of fixed rates at December 31, 2025."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"For fixed rate debt, changes in interest rates generally affect the fair value of the debt instrument, but not our earnings or cash flows."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"If the financial markets become difficult or costly to access, including due to rising interest rates, fluctuations in foreign currency exchange rates or other changes in economic conditions, our ability to raise additional capital may be negatively impacted, and any refinancing or restructuring could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"If the financial markets become difficult or costly to access, including due to rising interest rates, fluctuations in foreign currency exchange rates or other changes in economic conditions, our ability to raise additional capital may be negatively impacted, and any refinancing or restructuring could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We are exposed to market risks related to interest rate changes, which affect the market values of our investments and debt, as well as foreign currency fluctuations."}]}},{"ticker":"NOW","cik":"0001373715","rowId":"","companyName":"ServiceNow, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"The success of our activities is affected by general economic and market conditions, including, among others, inflation, interest rates, tax rates, foreign exchange rates, economic downturns, recession, economic uncertainty, political instability, warfare, changes in laws, trade barriers, supply chain disruptions and economic and trade sanctions."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"The success of our activities is affected by general economic and market conditions, including, among others, inflation, interest rates, tax rates, foreign exchange rates, economic downturns, recession, economic uncertainty, political instability, warfare, changes in laws, trade barriers, supply chain disruptions and economic and trade sanctions."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"Our marketable securities and long-term marketable securities are exposed to market risk due to fluctuations in interest rates, which may affect our interest income and the fair market value of our investments."}]}},{"ticker":"NVDA","cik":"0001045810","rowId":"","companyName":"NVIDIA CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Economic and industry uncertainty or changes, including recession or slowing growth, inflation, changes or uncertainty in fiscal, monetary, or trade policy, disruptions to capital markets and the banking system, currency fluctuations, higher interest rates, tighter credit, lower capital expenditures by businesses, including on IT infrastructure, increases in unemployment, labor shortages, and lower consumer confidence and spending, global supply chain constraints, and global economic and geopolitical developments, including the implementation of tariffs by the USG or other governments, have in the past and/or could in the future have adverse, wide-ranging effects on our business and financial results, including:"},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Economic and industry uncertainty or changes, including recession or slowing growth, inflation, changes or uncertainty in fiscal, monetary, or trade policy, disruptions to capital markets and the banking system, currency fluctuations, higher interest rates, tighter credit, lower capital expenditures by businesses, including on IT infrastructure, increases in unemployment, labor shortages, and lower consumer confidence and spending, global supply chain constraints, and global economic and geopolitical developments, including the implementation of tariffs by the USG or other governments, have in the past and/or could in the future have adverse, wide-ranging effects on our business and financial results, including:"},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Macroeconomic factors, including tariffs, inflation, interest rate changes, capital market volatility, global supply chain constraints, and global economic and geopolitical developments, have direct and indirect impacts on our results of operations, particularly demand for our products."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Some of our indebtedness may bear interest at variable rates, and increases in interest rates could increase our debt service obligations."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Some of our indebtedness may bear interest at variable rates, and increases in interest rates could increase our debt service obligations."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Macroeconomic developments such as the global or regional economic effects resulting from elevated inflation and interest rates, limited liquidity, adverse developments affecting financial institutions, the current wars and conflicts, evolving trade policies between the U.S. and international trade partners, including the imposition of tariffs and other trade measures or restrictions, or the occurrence of similar events in other countries that lead to uncertainty or instability in economic, political or market conditions could negatively affect our business, operating results, financial condition and outlook, which, in turn, could adversely affect our stock price."}]}},{"ticker":"PANW","cik":"0001327567","rowId":"","companyName":"Palo Alto Networks Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Further, economic conditions, including inflation, high interest rates, slow growth, fluctuations in foreign exchange rates, supply chain disruptions, including increased memory, storage, or other component shortages and costs, impacts of trade regulations or international trade disputes, and other conditions, may materially and adversely affect our financial condition and operating results."},"evidence":[{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Further, economic conditions, including inflation, high interest rates, slow growth, fluctuations in foreign exchange rates, supply chain disruptions, including increased memory, storage, or other component shortages and costs, impacts of trade regulations or international trade disputes, and other conditions, may materially and adversely affect our financial condition and operating results."},{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Most of the securities we invest in are subject to interest rate risk."}]}},{"ticker":"PEP","cik":"0000077476","rowId":"","companyName":"PEPSICO INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"A deterioration in our underlying assumptions, or those of our equity method investees, regarding the impact of competitive operating conditions, geopolitical conditions, macroeconomic conditions, including the interest rate environment, or other factors used to estimate the future performance of any of our reporting units or assets, including any deterioration in the weighted-average cost of capital based on market data available at the time, as well as our ability to hold the investment until recovery of fair value to amortized cost for available-for-sale debt securities, have resulted and could in the future result in an impairment charge, thereby adversely affecting our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"A deterioration in our underlying assumptions, or those of our equity method investees, regarding the impact of competitive operating conditions, geopolitical conditions, macroeconomic conditions, including the interest rate environment, or other factors used to estimate the future performance of any of our reporting units or assets, including any deterioration in the weighted-average cost of capital based on market data available at the time, as well as our ability to hold the investment until recovery of fair value to amortized cost for available-for-sale debt securities, have resulted and could in the future result in an impairment charge, thereby adversely affecting our results of operations."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"In the normal course of business, we manage commodity price, foreign exchange and interest rate risks through a variety of strategies, including productivity initiatives, global purchasing programs and hedging."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"Market Risk ––We are subject to foreign exchange risk, interest rate risk, and equity price risk."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"Market Risk ––We are subject to foreign exchange risk, interest rate risk, and equity price risk."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The objective of our financial risk management program is to minimize the impact of foreign exchange rate and interest rate movements on our earnings."}]}},{"ticker":"PG","cik":"0000080424","rowId":"","companyName":"PROCTER & GAMBLE Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"As we refinance debt or renew derivatives, we are exposed to movement in global interest rates and rate differentials."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"As we refinance debt or renew derivatives, we are exposed to movement in global interest rates and rate differentials."},{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"We are exposed to various risks due to economic, political and social instabilities, market volatility, natural disasters, debt and credit issues, currency controls, new or increased tariffs, foreign exchange, the availability and cost of materials and interest rate changes."}]}},{"ticker":"PGR","cik":"0000080661","rowId":"","companyName":"PROGRESSIVE CORP/OH/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"• Prepayment or extension risk - applicable to certain securities in the portfolio, such as asset-backed securities and other bonds with call provisions, prepayment risk is the risk that, as interest rates change, the principal of such securities may be repaid earlier than anticipated, requiring that we reinvest the proceeds at less attractive rates."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"• Prepayment or extension risk - applicable to certain securities in the portfolio, such as asset-backed securities and other bonds with call provisions, prepayment risk is the risk that, as interest rates change, the principal of such securities may be repaid earlier than anticipated, requiring that we reinvest the proceeds at less attractive rates."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"Downgrades in our credit ratings could adversely affect our ability to access the capital markets and/or lead to increased borrowing costs in the future (although the interest rates we pay on our current indebtedness would not be affected), as would adverse recommendations by equity analysts at the various brokerage houses and investment firms."}]}},{"ticker":"PH","cik":"0000076334","rowId":"","companyName":"Parker-Hannifin Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"The funding requirements and the amount of expenses recorded for our defined benefit pension plans are dependent on changes in market interest rates and the value of plan assets, which are dependent on actual plan asset returns."},"evidence":[{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"The funding requirements and the amount of expenses recorded for our defined benefit pension plans are dependent on changes in market interest rates and the value of plan assets, which are dependent on actual plan asset returns."},{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"Significant changes in market interest rates and decreases in the fair value of plan assets and investment losses on plan assets would increase funding requirements and expenses and may adversely impact our results of operations."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, the weighted average remaining term of our consolidated debt was 9 years and the weighted average interest rate was 3.2%."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, the weighted average remaining term of our consolidated debt was 9 years and the weighted average interest rate was 3.2%."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"Our hedging of foreign currency and interest rate risk may not effectively limit our exposure to these risks."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"If software for the challenges that we address does not achieve widespread adoption, or there is a reduction in demand caused by a lack of customer acceptance, technological challenges, weakening economic conditions (including due to ongoing global conflicts and related economic sanctions, fluctuating interest rates, monetary policy changes, or the potential or actual imposition of tariffs or other impacts on trade relations), security or privacy concerns, competing technologies and products, decreases in corporate spending, or otherwise, or, alternatively, if the market develops but we are unable to continue to penetrate it due to the cost, performance, and perceived value associated with our platforms, or other factors, it could result in decreased revenue and our business, financial condition, and results of operations could be adversely affected."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"If software for the challenges that we address does not achieve widespread adoption, or there is a reduction in demand caused by a lack of customer acceptance, technological challenges, weakening economic conditions (including due to ongoing global conflicts and related economic sanctions, fluctuating interest rates, monetary policy changes, or the potential or actual imposition of tariffs or other impacts on trade relations), security or privacy concerns, competing technologies and products, decreases in corporate spending, or otherwise, or, alternatively, if the market develops but we are unable to continue to penetrate it due to the cost, performance, and perceived value associated with our platforms, or other factors, it could result in decreased revenue and our business, financial condition, and results of operations could be adversely affected."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Variable rate indebtedness that we may incur under our credit facility will subject us to interest rate risk, which could cause our debt service obligations to increase significantly."}]}},{"ticker":"PM","cik":"0001413329","rowId":"","companyName":"Philip Morris International Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Our financial performance, our credit ratings, interest rates, the stability of financial institutions with which we partner, geopolitical or national developments, the stability and liquidity of the credit markets and the state of the global economy could affect the availability and cost of financing."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Our financial performance, our credit ratings, interest rates, the stability of financial institutions with which we partner, geopolitical or national developments, the stability and liquidity of the credit markets and the state of the global economy could affect the availability and cost of financing."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Interest – The favorable impact of $0.09 per share from interest in the table above was primarily due to the impact of lower market interest rates on our variable-rate debt, as well as the favorable impact of derivative financial instruments."}]}},{"ticker":"QCOM","cik":"0000804328","rowId":"","companyName":"QUALCOMM INC/DE","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"In addition, any such refinancing, restructuring or sale of assets might not be available on economically favorable terms or at all, and if prevailing interest rates at the time of any such refinancing or restructuring are higher than our current rates, interest expense related to such refinancing or restructuring would increase."},"evidence":[{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"In addition, any such refinancing, restructuring or sale of assets might not be available on economically favorable terms or at all, and if prevailing interest rates at the time of any such refinancing or restructuring are higher than our current rates, interest expense related to such refinancing or restructuring would increase."},{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"We also entered into interest rate swaps which are designated as fair value hedges and allow us to effectively convert all of our fixed-rate payments due under the May 2025 Notes into floating-rate payments."}]}},{"ticker":"RTX","cik":"0000101829","rowId":"","companyName":"RTX Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"Our international sales and operations are sensitive to changes in foreign national priorities, foreign government budgets, and regional and local political and economic factors, including wars and armed conflicts, political or civil unrest, volatility in energy prices or supply, inflation, interest rates, changes in threat environments and political relations, and geopolitical uncertainties."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"Our international sales and operations are sensitive to changes in foreign national priorities, foreign government budgets, and regional and local political and economic factors, including wars and armed conflicts, political or civil unrest, volatility in energy prices or supply, inflation, interest rates, changes in threat environments and political relations, and geopolitical uncertainties."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"It exposes us to interest rate and credit market risk at the time of refinancing outstanding debt, as well as these same risks on our commercial paper obligations, which are issued at variable rates."}]}},{"ticker":"SCHW","cik":"0000316709","rowId":"","companyName":"SCHWAB CHARLES CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"Our business can be adversely affected by the general environment – economic, corporate, securities market, regulatory, and geopolitical developments all play a role in client asset valuations, trading activity, interest rates, and overall investor engagement, and are outside of our control."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"Our business can be adversely affected by the general environment – economic, corporate, securities market, regulatory, and geopolitical developments all play a role in client asset valuations, trading activity, interest rates, and overall investor engagement, and are outside of our control."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"For example, as a result of rapid increases in short-term interest rates in 2022 and 2023, the Company saw a significant decrease in clients’ asset allocation to sweep cash and greater client investment in higher-yielding alternatives at Schwab such as fixed income investments and proprietary purchased money market funds."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic conditions, including, but not limited to, volatility in the financial markets, tighter credit, recession, inflation, rising interest rates, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, trade war, other macroeconomic factors, or changes to social conditions and regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},"evidence":[{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic conditions, including, but not limited to, volatility in the financial markets, tighter credit, recession, inflation, rising interest rates, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, trade war, other macroeconomic factors, or changes to social conditions and regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Additi onal information regarding our indebtedness, including information about availability under our revolving credit facility and the principal repayment terms, interest rates, covenants, collateral and other key terms of our outstanding indebtedness, is included in Part II, Item 8., Note 8, Debt of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• Changes in the volume of securities issued and traded in domestic and/or global capital markets, asset levels and flows into investment products, high interest rates, changes in interest rates and volatility in the financial markets, and volatility in the energy and commodity markets impact our business, financial condition or results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• Changes in the volume of securities issued and traded in domestic and/or global capital markets, asset levels and flows into investment products, high interest rates, changes in interest rates and volatility in the financial markets, and volatility in the energy and commodity markets impact our business, financial condition or results of operations."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• High or increasing interest rates or credit spreads, volatility in financial markets or the interest rate environment, significant political or economic events, defaults of significant issuers and other market and economic factors may negatively impact the general level of debt issuance, the debt issuance plans of certain categories of borrowers, the level of derivatives trading and/or the types of credit-sensitive products being offered, which impact our Ratings segment and portions of our Market Intelligence, Energy and Indices segments, and in the future could have a material adverse effect on our business, financial condition or results of operations."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"• issuing common stock (potentially creating dilution) or incurring additional debt in order to finance a transaction, which financings may require us to accept onerous terms such as high interest rates or covenants that restrict our business;"},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"• issuing common stock (potentially creating dilution) or incurring additional debt in order to finance a transaction, which financings may require us to accept onerous terms such as high interest rates or covenants that restrict our business;"},{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"Significant inflation and elevated interest rates have negatively affected our business in recent quarters and could continue to negatively affect our business, operating results or financial condition or the markets in which we operate, which, in turn, could adversely affect the price of our ordinary shares."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Adverse changes in the U.S. securities markets, a higher interest rate environment, rising inflation and medical costs could materially increase our benefit plan costs and future funding requirements."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Adverse changes in the U.S. securities markets, a higher interest rate environment, rising inflation and medical costs could materially increase our benefit plan costs and future funding requirements."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"In calculating the recognized benefit costs, we have made certain assumptions regarding future investment returns, interest rates and medical costs."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Changes in the capital and credit markets and general market disruptions, such as prolonged volatility or significant disruption of global financial markets relating to the financial and regulatory environment; interest rate fluctuations; geopolitical conflict; and disruptions impacting traditional banking, have in the past increased and may continue to increase the cost of financing or may restrict our access to potential sources of liquidity on acceptable terms or at all, and impede our ability to comply with debt covenants."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Changes in the capital and credit markets and general market disruptions, such as prolonged volatility or significant disruption of global financial markets relating to the financial and regulatory environment; interest rate fluctuations; geopolitical conflict; and disruptions impacting traditional banking, have in the past increased and may continue to increase the cost of financing or may restrict our access to potential sources of liquidity on acceptable terms or at all, and impede our ability to comply with debt covenants."},{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"For example, in recent years, increased freight costs related to labor, equipment and capacity shortages involving freight hauling, increased interest rates and other factors, had an adverse impact on our margins."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company is exposed to market risk from changes in interest rates and currency exchange rates, which could affect its future results of operations and financial condition."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company is exposed to market risk from changes in interest rates and currency exchange rates, which could affect its future results of operations and financial condition."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company has periodically hedged interest rate risks of fixed-rate instruments with offsetting interest rate swaps."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"However, we operate in a cyclical industry that is sensitive to shifting consumer trends, political and regulatory uncertainty, including with respect to trade and the environment, all of which can be compounded by inflationary pressures, rising energy prices, interest rate fluctuations and the liquidity of enterprise customers."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"However, we operate in a cyclical industry that is sensitive to shifting consumer trends, political and regulatory uncertainty, including with respect to trade and the environment, all of which can be compounded by inflationary pressures, rising energy prices, interest rate fluctuations and the liquidity of enterprise customers."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Interest income increased $111 million, or 7%, in the year ended December 31, 2025 as compared to the year ended December 31, 2024, primarily due to higher interest earned on our cash and cash equivalents and short-term investments due to an increase in our average portfolio balance, partially offset by a lower average interest rate."}]}},{"ticker":"TXN","cik":"0000097476","rowId":"","companyName":"TEXAS INSTRUMENTS INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"From time to time, we issue debt securities with various interest rates and maturities."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"From time to time, we issue debt securities with various interest rates and maturities."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"We have the following potential exposure to changes in interest rates: (i) the effect of changes in interest rates on the fair value of our investments in cash equivalents and short-term investments, which could produce a gain or a loss; and (ii) the effect of changes in interest rates on the fair value of our debt."}]}},{"ticker":"UBER","cik":"0001543151","rowId":"","companyName":"Uber Technologies, Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"inflation and higher interest rates, changes in labor market dynamics, or decreases in consumer spending power may harm our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"inflation and higher interest rates, changes in labor market dynamics, or decreases in consumer spending power may harm our results of operations."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"In addition, we are exposed to interest rate risk related to some of our indebtedness, which is discussed in greater detail under the section titled “Management's Discussion and Analysis of Financial Condition and Results of Operations - Quantitative and Qualitative Disclosures About Market Risk - Interest Rate Risk.”"}]}},{"ticker":"UNH","cik":"0000731766","rowId":"","companyName":"UNITEDHEALTH GROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Volatility in interest rates affects our interest income and the market value of our investments in debt securities of varying maturities which constitute the substantial majority of the fair value of our investments as of December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Volatility in interest rates affects our interest income and the market value of our investments in debt securities of varying maturities which constitute the substantial majority of the fair value of our investments as of December 31, 2025."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Changes in the value of our investment assets, as a result of interest rate fluctuations, changes in issuer financial or market conditions, illiquidity or otherwise, could have an adverse effect on our equity interests."}]}},{"ticker":"UNP","cik":"0000100885","rowId":"","companyName":"UNION PACIFIC CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"Significant instability or disruptions of the capital markets, including, among other things, elevated interest rates in the credit markets and/or changes in interest rates, or deterioration of our financial condition due to internal or external factors could restrict or prohibit our access to, and significantly increase the cost of, commercial paper and other financing sources, including bank credit facilities and the issuance of long-term debt, including corporate bonds, and could also have a material adverse effect on our results of operations, financial condition, and liquidity."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"Significant instability or disruptions of the capital markets, including, among other things, elevated interest rates in the credit markets and/or changes in interest rates, or deterioration of our financial condition due to internal or external factors could restrict or prohibit our access to, and significantly increase the cost of, commercial paper and other financing sources, including bank credit facilities and the issuance of long-term debt, including corporate bonds, and could also have a material adverse effect on our results of operations, financial condition, and liquidity."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"We are affected by general economic conditions – Prolonged, severe adverse domestic and global macroeconomic conditions or disruptions of financial and credit markets, including, for example, the cycles of recessionary fears, inflationary pressures, changes in interest rates, and/or related monetary policy actions by governments in response to inflation, may affect the producers and consumers of the commodities we carry and may have a material adverse effect on our access to liquidity, results of operations, and financial condition."}]}},{"ticker":"V","cik":"0001403161","rowId":"","companyName":"VISA INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"Our exposure to financial market risks results primarily from fluctuations in foreign currency exchange rates, interest rates and equity prices."},"evidence":[{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"Our exposure to financial market risks results primarily from fluctuations in foreign currency exchange rates, interest rates and equity prices."},{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"As of September 30, 2025 and 2024, a hypothetical 100 basis point increase in interest rates did not have a material impact on the fair value of our investment securities."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Factors outside of our control, such as economic, legal, regulatory, and political uncertainties; global geopolitical and other conflicts and tensions; inflation (and the potential for increased prices to reduce demand); prolonged periods of high interest rates; and public health crises (such as pandemics or epidemics) have negatively affected, and many such factors could continue to negatively affect, economic activity and growth levels of the U.S."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Factors outside of our control, such as economic, legal, regulatory, and political uncertainties; global geopolitical and other conflicts and tensions; inflation (and the potential for increased prices to reduce demand); prolonged periods of high interest rates; and public health crises (such as pandemics or epidemics) have negatively affected, and many such factors could continue to negatively affect, economic activity and growth levels of the U.S."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Unstable or illiquid financial market conditions and periods of prolonged high interest rates could also negatively impact our pension plans’ assets and funding requirements."}]}},{"ticker":"VRTX","cik":"0000875320","rowId":"","companyName":"VERTEX PHARMACEUTICALS INC / MA","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm","accession":"0000875320-26-000056","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, the value of our investment portfolio, and inflation affect our results"},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm","accession":"0000875320-26-000056","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, the value of our investment portfolio, and inflation affect our results"},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm","accession":"0000875320-26-000056","reportDate":"2025-12-31","text":"Fluctuations in currency exchange rates and interest rates, changes in the value of our investment portfolio, and inflation"}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing;"},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing;"},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• exposing us to increased interest rate risk to the extent that (i) our debt obligations are subject to variable interest rates or (ii) we need to refinance existing debt that bears interest at a rate lower than current market rates."}]}},{"ticker":"WDC","cik":"0000106040","rowId":"","companyName":"WESTERN DIGITAL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic and social conditions, including, but not limited to, volatility in the financial markets, reduced access to credit, recession, inflation, rising interest rates, trade wars or changes to tariffs, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, terrorism, other macroeconomic factors and new or changed regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},"evidence":[{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic and social conditions, including, but not limited to, volatility in the financial markets, reduced access to credit, recession, inflation, rising interest rates, trade wars or changes to tariffs, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, terrorism, other macroeconomic factors and new or changed regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"As our bank debt contains a variable interest rate component based on our corporate credit ratings, a decline in our ratings has in the past resulted in, and could in the future result in, increased interest rates and debt service obligations."}]}},{"ticker":"WELL","cik":"0000766704","rowId":"","companyName":"WELLTOWER INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Our yield on loans depends upon a number of factors, including the stated interest rate, average principal amount outstanding during the term of the loan and any interest rate adjustments."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Our yield on loans depends upon a number of factors, including the stated interest rate, average principal amount outstanding during the term of the loan and any interest rate adjustments."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Additionally, macroeconomic and geopolitical developments, including public health crises, escalating global conflicts, supply chain disruptions, labor market constraints, rising rates of inflation and high interest rates may amplify many of the risks discussed below to which we are subject."}]}},{"ticker":"WMT","cik":"0000104169","rowId":"","companyName":"Walmart Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-13","url":"https://www.sec.gov/Archives/edgar/data/104169/000010416926000055/wmt-20260131.htm","accession":"0000104169-26-000055","reportDate":"2026-01-31","text":"Estimated interest payments are based on our principal amounts and expected maturities of all debt outstanding as of January 31, 2026, and assumes interest rates remain at current levels for our variable rate instruments."},"evidence":[{"form":"10-K","filed":"2026-03-13","url":"https://www.sec.gov/Archives/edgar/data/104169/000010416926000055/wmt-20260131.htm","accession":"0000104169-26-000055","reportDate":"2026-01-31","text":"Estimated interest payments are based on our principal amounts and expected maturities of all debt outstanding as of January 31, 2026, and assumes interest rates remain at current levels for our variable rate instruments."},{"form":"10-K","filed":"2026-03-13","url":"https://www.sec.gov/Archives/edgar/data/104169/000010416926000055/wmt-20260131.htm","accession":"0000104169-26-000055","reportDate":"2026-01-31","text":"In addition to the risks inherent in our operations, we are exposed to certain market risks, including changes in interest rates, currency exchange rates and the fair values of certain equity and equity method investments measured on a recurring basis."}]}}],"reportDate":"2026-09-15","priorDate":"2026-09-08","title":"U.S. Treasury 10-Year Note: Leveraged Funds net share increased","description":"Net positioning increased by 70,628 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]},"relatedCompanies":[{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company has also issued foreign currency denominated long-term debt as partial hedges of its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro, Japanese yen and Swiss franc."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The impact to income from realized activity for the year ended December 31, 2025 was primarily driven by realized gains from our Mexican peso and Japanese yen-denominated hedges, partially offset by realized losses from our South Korean won and Chinese yuan-denominated hedges."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Currently, we hedge certain anticipated foreign currency cash flows, primarily anticipated revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, significant amounts of our operating expenses and capital expenditures, and certain assets and liabilities, are incurred in or exposed to other currencies, primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, we had foreign currency contracts denominated principally in British pound sterling, Canadian dollar, euro and Japanese yen, with an aggregate notional amount of $1.4 billion."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"As of December 31, 2025, we had outstanding euro- and pound-sterling-denominated debt with both a principal carrying value and a fair value of $2.5 billion."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We face exposure to movements in foreign currency exchange rates as the financial results and the financial condition of our businesses outside of the U.S., which represent a substantial majority of our financial results, are translated from local currencies (principally Euros and British Pounds Sterling) into U.S."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company’s revenue and expense generated in foreign currencies (primarily the euro and British pound) are impacted by foreign exchange rates."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"• In June 2025, we established an additional commercial paper program, under which we may issue, repay and re-issue short-term unsecured commercial paper notes (“CPNs”) denominated in British pound sterling, euros or U.S. dollars in an aggregate amount of up to €1.0 billion (or its equivalent in other currencies)."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"TXN","cik":"0000097476","rowId":"","companyName":"TEXAS INSTRUMENTS INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. 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Coffee C is a benchmark contract; blends, grades, and sourcing arrangements may differ.","reviewQuestion":"Which coffee grades and sourcing regions are relevant, and how are procurement prices hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"The Company completed the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"The Company completed the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"The Company completed a series of asset divestments in recent years, including the sale of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025."}]}}],"reportDate":"2026-09-08","priorDate":"2026-09-01","title":"Coffee C: Managed Money net share decreased","description":"Net positioning decreased by 4,620 contracts. 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The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},"evidence":[{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"Macroeconomic conditions, including inflation, interest rates and currency fluctuations, have directly and indirectly impacted, and could in the future materially impact, the Company’s results of operations and financial condition."}]},"relatedCompanies":[{"ticker":"AAPL","cik":"0000320193","rowId":"","companyName":"Apple Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},"evidence":[{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"Macroeconomic conditions, including inflation, interest rates and currency fluctuations, have directly and indirectly impacted, and could in the future materially impact, the Company’s results of operations and financial condition."}]}},{"ticker":"ABBV","cik":"0001551152","rowId":"","companyName":"AbbVie Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"• changes in the rate of inflation (including the cost of raw materials, commodities and supplies), interest rates, market value of AbbVie's equity investments and the performance of investments held by it or its employee benefit trusts;"},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"• changes in the rate of inflation (including the cost of raw materials, commodities and supplies), interest rates, market value of AbbVie's equity investments and the performance of investments held by it or its employee benefit trusts;"},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company is exposed to risk that its earnings, cash flows and equity could be adversely impacted by changes in foreign exchange rates and interest rates."}]}},{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• instability of global credit and financial markets due to uncertainty and adverse macroeconomic conditions such as inflation, tariffs and trade restrictions, high interest rates, bank failures and slower economic growth or recession that could, among other impacts, affect our ability to timely access external financing sources on acceptable terms or lead to financial difficulties or uncertainty of our customers, suppliers and distributors exposing us to late payments, cancelled orders and inventory challenges;"},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• instability of global credit and financial markets due to uncertainty and adverse macroeconomic conditions such as inflation, tariffs and trade restrictions, high interest rates, bank failures and slower economic growth or recession that could, among other impacts, affect our ability to timely access external financing sources on acceptable terms or lead to financial difficulties or uncertainty of our customers, suppliers and distributors exposing us to late payments, cancelled orders and inventory challenges;"},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• the effects of adverse economic or geopolitical conditions in the markets in which we sell our products, including inflationary pressures, which has resulted, and may continue to result, in increased interest rates, fuel prices, wages and other costs;"}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our business and the industries in which we operate can be impacted by uncertain or adverse economic and business conditions, including uncertainties and volatility in the financial markets, national debt, fiscal or monetary concerns, inflation and changes in interest rates, bank failures, tariffs and trade policies and economic recession."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our business and the industries in which we operate can be impacted by uncertain or adverse economic and business conditions, including uncertainties and volatility in the financial markets, national debt, fiscal or monetary concerns, inflation and changes in interest rates, bank failures, tariffs and trade policies and economic recession."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our investment portfolio is subject to general credit, liquidity, market and interest rate risks, which may be exacerbated by rising inflation, rising interest rates, bank failures or economic recession and the value and liquidity of our portfolio and returns on pension assets could be negatively impacted and lead to impairment charges."}]}},{"ticker":"AMD","cik":"0000002488","rowId":"","companyName":"ADVANCED MICRO DEVICES INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"Uncertainty in the economic environment or other unfavorable changes in economic conditions, such as inflation, fluctuating interest rates, recession, slowing growth, increased unemployment, tighter credit markets, changes or uncertainty in fiscal monetary or trade policy, implementation of new or increased tariffs, retaliatory tariffs by other countries or other trade restrictions, or currency fluctuations, may negatively impact consumer confidence and spending causing our customers to stop or postpone purchases."},"evidence":[{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"Uncertainty in the economic environment or other unfavorable changes in economic conditions, such as inflation, fluctuating interest rates, recession, slowing growth, increased unemployment, tighter credit markets, changes or uncertainty in fiscal monetary or trade policy, implementation of new or increased tariffs, retaliatory tariffs by other countries or other trade restrictions, or currency fluctuations, may negatively impact consumer confidence and spending causing our customers to stop or postpone purchases."},{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"The trading price of our stock may fluctuate widely due to various factors including: actual or anticipated fluctuations in our financial conditions and operating results; failure to meet expectations related to future growth; changes in financial estimates by us or financial estimates and ratings by securities analysts; changes in our capital structure, including issuance of additional debt or equity to the public; competitive landscape; news regarding our products or products of our competitors or other actions taken by competitors; broad market industry and competitor-related fluctuations; and general economic, political and market conditions, including imposition of new or increased tariffs and other trade restrictions, interest rate changes and inflation."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"The value of our investments may also be adversely affected by interest rate fluctuations, inflation, downgrades in credit ratings, illiquidity in the capital markets, geopolitical events and other factors that may result in other-than-temporary declines in the value of our investments."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"The value of our investments may also be adversely affected by interest rate fluctuations, inflation, downgrades in credit ratings, illiquidity in the capital markets, geopolitical events and other factors that may result in other-than-temporary declines in the value of our investments."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"Uncertain macroeconomic conditions, including the risk of inflation, fluctuating interest rates and instability in the financial system, as well as rising healthcare costs, continue to pose challenges to our business."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In addition, economic conditions and actions by policymaking bodies are contributing to changing interest rates and significant capital market volatility, which, along with any increases in our borrowing levels, could increase our future borrowing costs."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In addition, economic conditions and actions by policymaking bodies are contributing to changing interest rates and significant capital market volatility, which, along with any increases in our borrowing levels, could increase our future borrowing costs."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Macroeconomic factors, including changes in inflation and interest rates, resource and supply volatility, global economic and geopolitical developments, including unpredictable shifts in global tariff and trade policies, and the development and adoption of technologies and services, including artificial intelligence, have direct and indirect impacts on our results of operations that are difficult to predict, isolate, and quantify."}]}},{"ticker":"ANET","cik":"0001596532","rowId":"","companyName":"Arista Networks, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"• disruptions in our business due to general economic and market conditions, such as recessionary risks and a global economic downturn, international trade tensions and tariff policies, higher interest rates, monetary policy shifts, inflationary pressures, supply chain and labor shortages, changes in government administration, and geopolitical pressures;"},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"• disruptions in our business due to general economic and market conditions, such as recessionary risks and a global economic downturn, international trade tensions and tariff policies, higher interest rates, monetary policy shifts, inflationary pressures, supply chain and labor shortages, changes in government administration, and geopolitical pressures;"},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"We expect other income (expense), net may fluctuate in the future as a result of changes in interest rates, changes in our cash, cash equivalents and marketable securities balances."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company is subject to interest rate volatility with regard to existing and future issuances of debt."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company is subject to interest rate volatility with regard to existing and future issuances of debt."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"As of December  31, 2025, 3% of the Company’s outstanding borrowings were subject to floating interest rates."}]}},{"ticker":"AVGO","cik":"0001730168","rowId":"","companyName":"Broadcom Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"A general weakening of the economy globally or in a particular region or industry, uncertainty and volatility in financial markets, efforts of governments to stimulate or stabilize the economy or to achieve specific policy objectives such as onshoring of semiconductor manufacturing and other unfavorable changes in economic conditions, such as inflation, higher interest rates, tightening of the credit markets, recession or slowing growth, as well as an increase in trade tensions and related tariffs with U.S. trading partners, could negatively impact our business, financial condition, cash flows and liquidity."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"A general weakening of the economy globally or in a particular region or industry, uncertainty and volatility in financial markets, efforts of governments to stimulate or stabilize the economy or to achieve specific policy objectives such as onshoring of semiconductor manufacturing and other unfavorable changes in economic conditions, such as inflation, higher interest rates, tightening of the credit markets, recession or slowing growth, as well as an increase in trade tensions and related tariffs with U.S. trading partners, could negatively impact our business, financial condition, cash flows and liquidity."},{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"In addition, the current market volatility may adversely impact our ability to manage our debt, including through borrowing at favorable interest rates or due to reduced cash flows."}]}},{"ticker":"AXP","cik":"0000004962","rowId":"","companyName":"AMERICAN EXPRESS CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"• providing incentives to drive spending on our various card products and increase customer engagement, including our Membership Rewards ® and Amex Offers ™ programs, cash-back reward features, statement credits for purchases with partners, interest rates offered on deposits and participation in loyalty programs sponsored by our cobrand and other partners;"},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"• providing incentives to drive spending on our various card products and increase customer engagement, including our Membership Rewards ® and Amex Offers ™ programs, cash-back reward features, statement credits for purchases with partners, interest rates offered on deposits and participation in loyalty programs sponsored by our cobrand and other partners;"},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"Factors such as consumer spending and confidence, household income and housing prices, levels of unemployment and underemployment, business investment and inventory levels, bankruptcies, geopolitical instability, public policy decisions and uncertainty, government spending and debt, international trade relationships, tariffs, interest rates, taxes, inflation and deflation (including the effects of related governmental responses), impacts of new technologies, energy costs and availability of capital and credit all affect the economic environment and, ultimately, our profitability."}]}},{"ticker":"BA","cik":"0000012927","rowId":"","companyName":"BOEING CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations."},"evidence":[{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations."},{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"Therefore, exposure to interest rate risk is not believed to be material for our fixed-rate debt."}]}},{"ticker":"BAC","cik":"0000070858","rowId":"","companyName":"BANK OF AMERICA CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"This can affect interest rates and the value of financial instruments and other assets, such as debt securities, and impact our borrowers and potentially increase delinquency rates and may also raise government debt levels, adversely affect businesses and household incomes, adversely impact the banking sector generally, and increase uncertainty surrounding monetary policy."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"This can affect interest rates and the value of financial instruments and other assets, such as debt securities, and impact our borrowers and potentially increase delinquency rates and may also raise government debt levels, adversely affect businesses and household incomes, adversely impact the banking sector generally, and increase uncertainty surrounding monetary policy."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"Any future change in monetary policy by the Federal Reserve, in an effort to stimulate the economy or otherwise, resulting in lower interest rates would typically result in lower revenue through lower net interest income, which could adversely affect our results of operations."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We have exposure to several types of market risk, including changes in interest rates, foreign currency exchange rates, and equity prices."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We have exposure to several types of market risk, including changes in interest rates, foreign currency exchange rates, and equity prices."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We manage our exposure to interest rate risk and foreign currency risk through internally established policies and procedures and, when deemed appropriate, through the use of derivative financial instruments."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"BlackRock employs a conservative investment style for cash and securities lending collateral that emphasizes quality, liquidity, and interest rate risk management."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"BlackRock employs a conservative investment style for cash and securities lending collateral that emphasizes quality, liquidity, and interest rate risk management."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The rules require many market participants, including a large number of BlackRock funds and accounts, to clear Treasury repurchase transactions and potentially certain cash Treasury securities transactions through a clearing agency registered with the SEC, which could increase transaction costs for BlackRock’s clients."}]}},{"ticker":"BMY","cik":"0000014272","rowId":"","companyName":"BRISTOL MYERS SQUIBB CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Our investment portfolio includes marketable debt securities, which are subject to changes in fair value as a result of interest rate fluctuations and other market factors."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Our investment portfolio includes marketable debt securities, which are subject to changes in fair value as a result of interest rate fluctuations and other market factors."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Any credit rating downgrade may affect the interest rate of any debt we may incur, the fair market value of existing debt and our ability to access the capital markets generally."}]}},{"ticker":"BRK-B","cik":"0001067983","rowId":"","companyName":"BERKSHIRE HATHAWAY INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Our significant market risks are primarily associated with equity prices, interest rates, foreign currency exchange rates and commodity prices."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Our significant market risks are primarily associated with equity prices, interest rates, foreign currency exchange rates and commodity prices."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"We also invest in bonds, loans or other interest rate sensitive instruments."}]}},{"ticker":"C","cik":"0000831001","rowId":"","companyName":"CITIGROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"Citigroup’s Asset and Liability Committee (ALCO) establishes Citi’s risk appetite and related limits for interest rate risk in the Banking Book, which are subject to approval by Citigroup’s Board of Directors."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"Citigroup’s Asset and Liability Committee (ALCO) establishes Citi’s risk appetite and related limits for interest rate risk in the Banking Book, which are subject to approval by Citigroup’s Board of Directors."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"AOCI at risk is managed as part of the Company-wide interest rate risk position."}]}},{"ticker":"CAT","cik":"0000018230","rowId":"","companyName":"CATERPILLAR INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"In addition, many of the manufacturers that compete with Caterpillar also own financial subsidiaries, such as John Deere Capital Corporation, Komatsu Financial L.P., Volvo Financial Services and Kubota Credit Corporation, which utilize many below-market interest rate programs (funded by the manufacturer) to support machine sales."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"In addition, many of the manufacturers that compete with Caterpillar also own financial subsidiaries, such as John Deere Capital Corporation, Komatsu Financial L.P., Volvo Financial Services and Kubota Credit Corporation, which utilize many below-market interest rate programs (funded by the manufacturer) to support machine sales."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"The demand for our products and services tends to be cyclical and can be significantly reduced in periods of economic weakness characterized by lower levels of government and business investment, lower levels of business confidence, lower corporate earnings, high real interest rates, lower credit activity or tighter credit conditions, perceived or actual industry overcapacity, higher unemployment and lower consumer spending."}]}},{"ticker":"CB","cik":"0000896159","rowId":"","companyName":"Chubb Ltd","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Our pricing, establishment of liabilities for life insurance and annuity products, including reinsurance programs, are based upon various assumptions, including equity market changes, interest rates, mortality rates, morbidity rates, and policyholder behavior."},"evidence":[{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Our pricing, establishment of liabilities for life insurance and annuity products, including reinsurance programs, are based upon various assumptions, including equity market changes, interest rates, mortality rates, morbidity rates, and policyholder behavior."},{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Under long-duration targeted improvements (LDTI), the accounting for our FPB reserves is also sensitive to changing interest rate conditions."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"• Fluctuations in interest rates could adversely affect our business, results of operations and financial condition."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"• Fluctuations in interest rates could adversely affect our business, results of operations and financial condition."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"Changes in interest rates could adversely affect the results of our operations and financial condition."}]}},{"ticker":"COP","cik":"0001163165","rowId":"","companyName":"CONOCOPHILLIPS","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We and certain of our subsidiaries hold and issue derivative contracts and financial instruments that expose our cash flows or earnings to changes in commodity prices, foreign currency exchange rates or interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We and certain of our subsidiaries hold and issue derivative contracts and financial instruments that expose our cash flows or earnings to changes in commodity prices, foreign currency exchange rates or interest rates."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We may use financial and commodity-based derivative contracts to manage the risks produced by changes in the prices of natural gas, crude oil and related products; fluctuations in interest rates and foreign currency exchange rates; or to capture market opportunities."}]}},{"ticker":"COST","cik":"0000909832","rowId":"","companyName":"COSTCO WHOLESALE CORP /NEW","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Higher energy and gasoline costs, inflation, levels of unemployment, healthcare costs, consumer debt levels, foreign-currency exchange rates, unsettled financial markets, weaknesses in housing and real estate markets, reduced consumer confidence, changes and uncertainties related to government fiscal, monetary and tax policies including changes in interest rates, tax rates, duties, tariffs, or other restrictions, sovereign debt crises, pandemics and other health crises, and other economic factors could adversely affect demand for our products and services, require a change in product mix, or impact the cost of or ability to purchase inventory."},"evidence":[{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Higher energy and gasoline costs, inflation, levels of unemployment, healthcare costs, consumer debt levels, foreign-currency exchange rates, unsettled financial markets, weaknesses in housing and real estate markets, reduced consumer confidence, changes and uncertainties related to government fiscal, monetary and tax policies including changes in interest rates, tax rates, duties, tariffs, or other restrictions, sovereign debt crises, pandemics and other health crises, and other economic factors could adversely affect demand for our products and services, require a change in product mix, or impact the cost of or ability to purchase inventory."},{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Our exposure to financial market risk results from fluctuations in interest rates and foreign-currency exchange rates."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Any new or refinanced debt may be subject to substantially higher interest rates, which could adversely affect our financial condition and impact our business."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Any new or refinanced debt may be subject to substantially higher interest rates, which could adversely affect our financial condition and impact our business."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Our quarterly results have fluctuated, and are likely to fluctuate in the future, as a result of a number of known and unknown factors, including: the factors described in this Item 1, Part 1A of this Annual Report; the cyclical nature and seasonality of our sales cycle and our customers’ businesses, especially our Commerce service offering customers; the global economic impact of geopolitical events, including ongoing conflicts and uncertainty about the interest rate environment; the timing of contract execution and term software license sales; the amount and timing of operating costs and capital expenditures related to the operations and expansion of our business; the timing of commission, bonus and other compensation payments to"}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"Any refinancing of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"Any refinancing of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"We do not have any outstanding derivative financial instruments, off-balance sheet guarantees, interest rate swap transactions, or foreign currency forward contracts."}]}},{"ticker":"CSCO","cik":"0000858877","rowId":"","companyName":"CISCO SYSTEMS, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"Risk Factors,” including the risk factor entitled “We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings.”"},"evidence":[{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"Risk Factors,” including the risk factor entitled “We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings.”"},{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings."}]}},{"ticker":"CVS","cik":"0000064803","rowId":"","companyName":"CVS HEALTH Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"The RBC Model Act sets forth the formula for calculating RBC requirements, which are designed to take into account asset risks, insurance risks, interest rate risks and other relevant risks with respect to an individual company’s business."},"evidence":[{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"The RBC Model Act sets forth the formula for calculating RBC requirements, which are designed to take into account asset risks, insurance risks, interest rate risks and other relevant risks with respect to an individual company’s business."},{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"Adverse economic conditions in the U.S. and abroad, including those caused by inflation, high interest rates, declines in consumer confidence, increases in unemployment and supply chain disruptions, all of which we have experienced over the last number of years, can materially and adversely impact our businesses, operating results, cash flows and financial condition, including:"}]}},{"ticker":"CVX","cik":"0000093410","rowId":"","companyName":"CHEVRON CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest Rates The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest Rates The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest rate swaps related to a portion of the company’s fixed-rate debt, if any, may be accounted for as fair value hedges."}]}},{"ticker":"DE","cik":"0000315189","rowId":"","companyName":"DEERE & CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"The demand for our products and services depends on the fundamentals in the markets in which we operate and can be significantly reduced in an economic environment characterized by high unemployment, high interest rates, cautious consumer spending, inflation, lower corporate earnings, and lower business investment, all of which affect farmers’ income and sentiment."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"The demand for our products and services depends on the fundamentals in the markets in which we operate and can be significantly reduced in an economic environment characterized by high unemployment, high interest rates, cautious consumer spending, inflation, lower corporate earnings, and lower business investment, all of which affect farmers’ income and sentiment."},{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"Changes in interest rates or market liquidity conditions, as well as changes in government banking, monetary and fiscal policies, could adversely affect our financials and our earnings and/or cash flows."}]}},{"ticker":"DELL","cik":"0001571996","rowId":"","companyName":"Dell Technologies Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The results of these operations are allocated to our segments based on the underlying product or service financed and may be impacted by, among other factors, changes in the interest rate environment and the translation of those changes to pricing."},"evidence":[{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The results of these operations are allocated to our segments based on the underlying product or service financed and may be impacted by, among other factors, changes in the interest rate environment and the translation of those changes to pricing."},{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"Adverse economic conditions may negatively affect customer demand, and could result in postponed or decreased spending amid customer concerns over elevated inflation and interest rates or slowing demand for our products, reduced asset values, volatile energy costs, the availability and cost of credit, and the stability of financial institutions, financial markets, businesses, local and state governments, and sovereign nations."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Our debt level and related debt service obligations can have negative consequences, including (1) requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes such as acquisitions and other investments; (2) reducing our flexibility in planning for or reacting to changes in our business and market conditions; and (3) exposing us to interest rate risk on any variable rate debt we may issue, particularly in light of increases in interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Our debt level and related debt service obligations can have negative consequences, including (1) requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes such as acquisitions and other investments; (2) reducing our flexibility in planning for or reacting to changes in our business and market conditions; and (3) exposing us to interest rate risk on any variable rate debt we may issue, particularly in light of increases in interest rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"If our credit ratings are downgraded or put on watch for a potential downgrade, we may not be able to sell additional debt securities or borrow money in the amounts, at the times or interest rates or upon the more favorable terms and conditions that might be available if our current credit ratings were maintained."}]}},{"ticker":"DIS","cik":"0001744489","rowId":"","companyName":"Walt Disney Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"While a number of different factors affect the demand for our products and services, actual or perceived declines in economic conditions typically have impacts across our businesses, including, among others, lower attendance and spending at our parks and experiences businesses, fees received for our cable programming and DTC services, including as a result of declines in subscription levels, purchases of and prices for advertising on our DTC services and linear networks or licensing fees, while in the case of inflationary conditions, also increasing the prices we pay for goods, services and labor, as well as typically our borrowing costs due to elevated interest rates, making it more difficult to obtain financing for our operations and investments on favorable terms."},"evidence":[{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"While a number of different factors affect the demand for our products and services, actual or perceived declines in economic conditions typically have impacts across our businesses, including, among others, lower attendance and spending at our parks and experiences businesses, fees received for our cable programming and DTC services, including as a result of declines in subscription levels, purchases of and prices for advertising on our DTC services and linear networks or licensing fees, while in the case of inflationary conditions, also increasing the prices we pay for goods, services and labor, as well as typically our borrowing costs due to elevated interest rates, making it more difficult to obtain financing for our operations and investments on favorable terms."},{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"Potential credit ratings actions, increases in interest rates, volatility in the U.S. and global financial markets or periods of elevated indebtedness could impede access to, or increase the cost of, financing our operations and investments and have the effect of decreasing of business flexibility."}]}},{"ticker":"ETN","cik":"0001551182","rowId":"","companyName":"Eaton Corp plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"As most leases do not provide an implicit interest rate, Eaton typically uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"As most leases do not provide an implicit interest rate, Eaton typically uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"In the normal course of business, Eaton is exposed to certain risks related to fluctuations in interest rates, currency exchange rates and commodity prices."}]}},{"ticker":"GE","cik":"0000040545","rowId":"","companyName":"GENERAL ELECTRIC CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"• changes in macroeconomic and market conditions and market volatility (including risks related to recession, inflation, supply chain constraints or disruptions, interest rates, values of financial assets, oil, jet fuel and other commodity prices and exchange rates), and the impact of such changes and volatility on our business operations and financial results;"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"• changes in macroeconomic and market conditions and market volatility (including risks related to recession, inflation, supply chain constraints or disruptions, interest rates, values of financial assets, oil, jet fuel and other commodity prices and exchange rates), and the impact of such changes and volatility on our business operations and financial results;"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"To assess exposure to interest rate risk, we apply a +/- 100 basis points change in interest rates and keep that in place for the next 12 months."}]}},{"ticker":"GEV","cik":"0001996810","rowId":"","companyName":"GE Vernova Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"Our ability to maintain our investment grade credit ratings could affect our ability to access capital, increase our interest rates,"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"Our ability to maintain our investment grade credit ratings could affect our ability to access capital, increase our interest rates,"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"The level of our interest rate risk is"}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Interest Rates and Inflation: We have interest-generating assets and interest-bearing liabilities, including our senior unsecured notes and credit facilities."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Interest Rates and Inflation: We have interest-generating assets and interest-bearing liabilities, including our senior unsecured notes and credit facilities."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"Fluctuations in interest rates could expose us to increased financial risk."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The funded status of our pension plans is dependent upon multiple factors including actuarial assumptions, interest rates at year-end, prior investment returns and contributions made to the plans."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The funded status of our pension plans is dependent upon multiple factors including actuarial assumptions, interest rates at year-end, prior investment returns and contributions made to the plans."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The costs and obligations related to these benefits reflect our assumptions related to general economic conditions (particularly interest rates), expected return on plan assets, rate of compensation increase for employees and health care trend rates."}]}},{"ticker":"GOOGL","cik":"0001652044","rowId":"","companyName":"Alphabet Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"The fair value of our debt and equity investments may in the future be, and certain investments have been in the past, negatively affected by liquidity, credit deterioration or losses, performance and financial results of the underlying entities, foreign exchange rates, changes in interest rates, the effect of new or changing regulations, the stock market in general, or other factors."},"evidence":[{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"The fair value of our debt and equity investments may in the future be, and certain investments have been in the past, negatively affected by liquidity, credit deterioration or losses, performance and financial results of the underlying entities, foreign exchange rates, changes in interest rates, the effect of new or changing regulations, the stock market in general, or other factors."},{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"We are exposed to financial market risks, including changes in foreign currency exchange rates, interest rates, and equity investment risks."}]}},{"ticker":"GS","cik":"0000886982","rowId":"","companyName":"GOLDMAN SACHS GROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"We conduct a number of our activities partially or entirely through GS Bank USA and its subsidiaries, including: corporate loans (including leveraged lending); securities-based and collateralized loans; credit card loans; residential mortgages; transaction banking; deposit-taking; interest rate, credit, currency and other derivatives; and agency lending."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"We conduct a number of our activities partially or entirely through GS Bank USA and its subsidiaries, including: corporate loans (including leveraged lending); securities-based and collateralized loans; credit card loans; residential mortgages; transaction banking; deposit-taking; interest rate, credit, currency and other derivatives; and agency lending."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"Statements about the projected growth of our deposits and other funding are subject to the risk that actual growth, savings and profitability may differ, possibly materially, from that currently anticipated due to, among other things, changes in interest rates and competition from other similar products."}]}},{"ticker":"HD","cik":"0000354950","rowId":"","companyName":"HOME DEPOT, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"Our comparable sales results reflect customer engagement with smaller home improvement projects, which was offset by the impact of continued macroeconomic uncertainties and other macroeconomic factors, including a persisting high interest rate environment, that continue to pressure broader home improvement demand."},"evidence":[{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"Our comparable sales results reflect customer engagement with smaller home improvement projects, which was offset by the impact of continued macroeconomic uncertainties and other macroeconomic factors, including a persisting high interest rate environment, that continue to pressure broader home improvement demand."},{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"At February 1, 2026, we had outstanding borrowings under our commercial paper program of $4.5 billion with a weighted average interest rate of 3.7%."}]}},{"ticker":"IBM","cik":"0000051143","rowId":"","companyName":"INTERNATIONAL BUSINESS MACHINES CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"Further, inherent in the company’s financing business are risks related to the concentration of credit, client creditworthiness, interest rate and currency fluctuations on the associated debt and liabilities and the determination of residual values."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"Further, inherent in the company’s financing business are risks related to the concentration of credit, client creditworthiness, interest rate and currency fluctuations on the associated debt and liabilities and the determination of residual values."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"The value of the company’s debt securities fluctuates based on many factors, including the methods employed for calculating principal and interest, the maturity of the securities, the aggregate principal amount of securities outstanding, the redemption features for the securities, the level, direction and volatility of interest rates, changes in exchange rates, exchange controls, governmental and stock exchange regulations and other factors over which the company has little or no control."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are affected by changes in currency exchange and interest rates, as well as equity and commodity prices."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are affected by changes in currency exchange and interest rates, as well as equity and commodity prices."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are exposed to currency exchange risks of non-U.S.-dollar-denominated investments in debt and equity instruments, and may economically hedge these risks with foreign currency contracts, such as currency forward contracts, currency swaps or interest rate swaps."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: the overall macroeconomic environment, which may impact customer spending and our costs, including tariffs, the levels of inflation, and interest rates; the conflict between Ukraine and Russia; conflicts in the Middle East; disruption to our supply chain, including difficulties in obtaining a sufficient supply of materials; curtailed or delayed capital spending by hospitals; the impact of global and regional economic and credit market conditions on healthcare spending; delays in obtaining new product approvals, clearances, or certifications from the U.S."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: the overall macroeconomic environment, which may impact customer spending and our costs, including tariffs, the levels of inflation, and interest rates; the conflict between Ukraine and Russia; conflicts in the Middle East; disruption to our supply chain, including difficulties in obtaining a sufficient supply of materials; curtailed or delayed capital spending by hospitals; the impact of global and regional economic and credit market conditions on healthcare spending; delays in obtaining new product approvals, clearances, or certifications from the U.S."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"Macroeconomic conditions, such as inflationary pressure, changes to monetary policy, elevated interest rates, volatile currency exchange rates, credit and sovereign debt concerns, concerns about slowed growth in China and other OUS markets, decreasing consumer confidence and spending, including capital spending, the introduction of or changes in tariffs or trade barriers, and global or local recessions can adversely impact demand for our products, which could negatively impact our business, financial condition, or results of operations."}]}},{"ticker":"JNJ","cik":"0000200406","rowId":"","companyName":"JOHNSON & JOHNSON","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"• local and regional economic environments and policies in the markets that we serve, including interest rates, monetary policy, inflation, economic growth, recession, commodity prices, and currency controls or other limitations on the ability to expatriate cash;"},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"• local and regional economic environments and policies in the markets that we serve, including interest rates, monetary policy, inflation, economic growth, recession, commodity prices, and currency controls or other limitations on the ability to expatriate cash;"},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company invests in both fixed rate and floating rate interest earning securities which carry a degree of interest rate risk."}]}},{"ticker":"JPM","cik":"0000019617","rowId":"","companyName":"JPMORGAN CHASE & CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"• Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase’s businesses, investments and market-making positions, as well as on its earnings and liquidity and capital levels."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"• Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase’s businesses, investments and market-making positions, as well as on its earnings and liquidity and capital levels."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"In addition, JPMorganChase’s earnings from its consumer businesses could be adversely affected if customer demand for the products and services offered by its consumer businesses is diminished by sustained low growth, low or negative interest rates, inflationary pressures, or recessionary conditions."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks related to fluctuations in interest rates and the market values of our portfolio investments;"},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks related to fluctuations in interest rates and the market values of our portfolio investments;"},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks associated with our interest rate hedging activities;"}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including global inflationary pressures, prevailing interest rates, credit market conditions, increased unemployment, levels of consumer and business confidence, bank failures, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, governmental rules and approaches to taxation, levels of government spending and deficits, and actual or anticipated default on sovereign debt."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including global inflationary pressures, prevailing interest rates, credit market conditions, increased unemployment, levels of consumer and business confidence, bank failures, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, governmental rules and approaches to taxation, levels of government spending and deficits, and actual or anticipated default on sovereign debt."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"If interest rates increase, our net income could be negatively affected."}]}},{"ticker":"LIN","cik":"0001707925","rowId":"","companyName":"LINDE PLC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"As deemed necessary, Linde manages its exposure to interest-rate changes through the use of financial derivatives (see Note 12 to the consolidated financial statements and Item 7A."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"As deemed necessary, Linde manages its exposure to interest-rate changes through the use of financial derivatives (see Note 12 to the consolidated financial statements and Item 7A."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"Under the European debt issuance program, Linde plc may issue unsecured notes with such terms, including currency, interest rate and maturity, as agreed by Linde plc and the purchasers of such notes at the time of sale and as set out in the final terms for the relevant issue of notes."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, and inflation or deflation affect our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, and inflation or deflation affect our results of operations."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, interest rate risk from our exposure to floating and variable interest rates, and existing and expected rates of inflation or deflation in the U.S. and other jurisdictions, each of which impacts our results of operations."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"In addition, we have entered, and in the future may enter, into derivative instrument arrangements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"In addition, we have entered, and in the future may enter, into derivative instrument arrangements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"The fair value of our Senior Notes is subject to interest rate risk and market risk."}]}},{"ticker":"MA","cik":"0001141391","rowId":"","companyName":"Mastercard Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"We do not issue cards, extend credit, determine or receive revenue from interest rates or other fees charged to account holders by issuers, nor do we establish the rates charged by acquirers in connection with merchants’ acceptance of our products."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"We do not issue cards, extend credit, determine or receive revenue from interest rates or other fees charged to account holders by issuers, nor do we establish the rates charged by acquirers in connection with merchants’ acceptance of our products."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"If interchange rates are too low, issuers may stop promoting our products and services, eliminate or reduce loyalty rewards programs or other account holder benefits (e.g., free checking or low interest rates on balances), or charge fees to account holders (e.g., annual fees or late payment fees)."}]}},{"ticker":"MCD","cik":"0000063908","rowId":"","companyName":"MCDONALDS CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company generally borrows on a long-term basis and is exposed to the impact of interest rate changes and foreign currency fluctuations."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company generally borrows on a long-term basis and is exposed to the impact of interest rate changes and foreign currency fluctuations."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company manages its debt portfolio in response to changes in interest rates and foreign currency rates by periodically retiring, redeeming and repurchasing debt, terminating swaps and using derivatives."}]}},{"ticker":"MDT","cik":"0001613103","rowId":"","companyName":"Medtronic plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At the time we may incur such additional indebtedness, or refinance or restructure existing indebtedness, we may be unable to obtain capital market financing with similar terms, interest rates, or currency denomination to our existing indebtedness, or at all, which could have a material adverse effect on our business and results of operations."},"evidence":[{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At the time we may incur such additional indebtedness, or refinance or restructure existing indebtedness, we may be unable to obtain capital market financing with similar terms, interest rates, or currency denomination to our existing indebtedness, or at all, which could have a material adverse effect on our business and results of operations."},{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At any time, the fair value of our debt outstanding will fluctuate based on several factors including foreign currency exchange rate and interest rate movements, credit conditions and our credit rating."}]}},{"ticker":"META","cik":"0001326801","rowId":"","companyName":"Meta Platforms, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"• fluctuations in the market values of our investments in marketable securities, in the valuation of our non-marketable equity investments, and in interest rates;"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"• fluctuations in the market values of our investments in marketable securities, in the valuation of our non-marketable equity investments, and in interest rates;"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We are exposed to market risks, including changes to foreign currency exchange rates, interest rates, and equity price risk."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Disruption and uncertainty in the credit or capital markets or high interest rates could negatively impact the availability or cost of capital and adversely affect our liquidity, cash flow, earnings and dividend rate."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Disruption and uncertainty in the credit or capital markets or high interest rates could negatively impact the availability or cost of capital and adversely affect our liquidity, cash flow, earnings and dividend rate."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Current geopolitical and macroeconomic conditions (including tariffs, inflation, high interest rates, labor shortages, supply and demand imbalances and international armed conflict) and adverse weather events have caused and continue to cause worldwide disruptions and delays to supply chains and commercial markets, and have limited access to, and increased the cost of, raw materials, ingredients and component parts (for example, wood tips used in our cigar products and aluminum used in our packaging)."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Inflation may also result in higher interest rates, which in turn would result in higher interest expense related to our variable rate indebtedness and any borrowings we undertake to refinance existing fixed rate indebtedness."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Inflation may also result in higher interest rates, which in turn would result in higher interest expense related to our variable rate indebtedness and any borrowings we undertake to refinance existing fixed rate indebtedness."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Increases in interest rates could adversely impact our ability to issue equity, refinance existing debt or incur additional debt for acquisitions or other purposes and our ability to pay dividends at our intended levels."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"• The Company is exposed to market risk from fluctuations in currency exchange rates and interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"• The Company is exposed to market risk from fluctuations in currency exchange rates and interest rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"The Company’s business may be adversely affected by local and global economic conditions, including with respect to inflation, interest rates, and costs of raw materials and packaging."}]}},{"ticker":"MRVL","cik":"0001835632","rowId":"","companyName":"Marvell Technology, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"Our margin could also be impacted, for example, by the following factors: increased costs (including increased costs caused by tariffs, inflation, higher interest rates, or supply chain constraints); loss of cost savings if parts ordering does not correctly anticipate product demand or if the financial health of either our manufacturers partners or our suppliers deteriorates; excess inventory, or inventory holding and obsolescence charges."},"evidence":[{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"Our margin could also be impacted, for example, by the following factors: increased costs (including increased costs caused by tariffs, inflation, higher interest rates, or supply chain constraints); loss of cost savings if parts ordering does not correctly anticipate product demand or if the financial health of either our manufacturers partners or our suppliers deteriorates; excess inventory, or inventory holding and obsolescence charges."},{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"In addition, while the Russian invasion of Ukraine has not had a direct material impact on us due to our limited sales to Russia and Ukraine, we are unable to predict the indirect impact this conflict will have on us due to impacts on the supply chain, global and domestic economies, interest rates and stock markets."}]}},{"ticker":"MS","cik":"0000895421","rowId":"","companyName":"MORGAN STANLEY","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Significant changes to interest rates could adversely affect our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Significant changes to interest rates could adversely affect our results of operations."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Our net interest income is sensitive to changes in interest rates, generally resulting in higher net interest income in higher interest rate scenarios and lower net interest income in lower interest rate scenarios."}]}},{"ticker":"MSFT","cik":"0000789019","rowId":"","companyName":"MICROSOFT CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Adverse changes in interest rates, credit markets, investor sentiment, our credit ratings, or other factors affecting capital availability could increase our cost of capital or limit our ability to execute our infrastructure strategy."},"evidence":[{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Adverse changes in interest rates, credit markets, investor sentiment, our credit ratings, or other factors affecting capital availability could increase our cost of capital or limit our ability to execute our infrastructure strategy."},{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Worsening economic conditions, including inflation, recession, pandemic, or other changes in economic conditions, periods of economic uncertainty, evolution of customer demand, technology investment cycles, interest rates, foreign exchange rates, or the timing and mix of customer spending, may cause lower or delayed IT spending and adversely affect our results of operations."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Downturns or ongoing adverse conditions in regional or worldwide economies, due to inflation, geopolitics, changes in government borrowing or spending, trade disputes, war, major central bank policy actions including interest rate increases, public health crises, or other factors, have harmed our business in the past and current and future downturns could also adversely affect our business."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Downturns or ongoing adverse conditions in regional or worldwide economies, due to inflation, geopolitics, changes in government borrowing or spending, trade disputes, war, major central bank policy actions including interest rate increases, public health crises, or other factors, have harmed our business in the past and current and future downturns could also adversely affect our business."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"As a result of our debt levels, expected debt amortization, prevailing interest rates, general capital market, changes in government borrowing or spending, and other economic conditions, it may be difficult for us to obtain financing on terms acceptable to us or at all."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"We are subject to interest rate risk related to the fair value of our senior notes which is wholly comprised of fixed rates at December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"We are subject to interest rate risk related to the fair value of our senior notes which is wholly comprised of fixed rates at December 31, 2025."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"For fixed rate debt, changes in interest rates generally affect the fair value of the debt instrument, but not our earnings or cash flows."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"If the financial markets become difficult or costly to access, including due to rising interest rates, fluctuations in foreign currency exchange rates or other changes in economic conditions, our ability to raise additional capital may be negatively impacted, and any refinancing or restructuring could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"If the financial markets become difficult or costly to access, including due to rising interest rates, fluctuations in foreign currency exchange rates or other changes in economic conditions, our ability to raise additional capital may be negatively impacted, and any refinancing or restructuring could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We are exposed to market risks related to interest rate changes, which affect the market values of our investments and debt, as well as foreign currency fluctuations."}]}},{"ticker":"NOW","cik":"0001373715","rowId":"","companyName":"ServiceNow, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"The success of our activities is affected by general economic and market conditions, including, among others, inflation, interest rates, tax rates, foreign exchange rates, economic downturns, recession, economic uncertainty, political instability, warfare, changes in laws, trade barriers, supply chain disruptions and economic and trade sanctions."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"The success of our activities is affected by general economic and market conditions, including, among others, inflation, interest rates, tax rates, foreign exchange rates, economic downturns, recession, economic uncertainty, political instability, warfare, changes in laws, trade barriers, supply chain disruptions and economic and trade sanctions."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"Our marketable securities and long-term marketable securities are exposed to market risk due to fluctuations in interest rates, which may affect our interest income and the fair market value of our investments."}]}},{"ticker":"NVDA","cik":"0001045810","rowId":"","companyName":"NVIDIA CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Economic and industry uncertainty or changes, including recession or slowing growth, inflation, changes or uncertainty in fiscal, monetary, or trade policy, disruptions to capital markets and the banking system, currency fluctuations, higher interest rates, tighter credit, lower capital expenditures by businesses, including on IT infrastructure, increases in unemployment, labor shortages, and lower consumer confidence and spending, global supply chain constraints, and global economic and geopolitical developments, including the implementation of tariffs by the USG or other governments, have in the past and/or could in the future have adverse, wide-ranging effects on our business and financial results, including:"},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Economic and industry uncertainty or changes, including recession or slowing growth, inflation, changes or uncertainty in fiscal, monetary, or trade policy, disruptions to capital markets and the banking system, currency fluctuations, higher interest rates, tighter credit, lower capital expenditures by businesses, including on IT infrastructure, increases in unemployment, labor shortages, and lower consumer confidence and spending, global supply chain constraints, and global economic and geopolitical developments, including the implementation of tariffs by the USG or other governments, have in the past and/or could in the future have adverse, wide-ranging effects on our business and financial results, including:"},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Macroeconomic factors, including tariffs, inflation, interest rate changes, capital market volatility, global supply chain constraints, and global economic and geopolitical developments, have direct and indirect impacts on our results of operations, particularly demand for our products."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Some of our indebtedness may bear interest at variable rates, and increases in interest rates could increase our debt service obligations."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Some of our indebtedness may bear interest at variable rates, and increases in interest rates could increase our debt service obligations."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Macroeconomic developments such as the global or regional economic effects resulting from elevated inflation and interest rates, limited liquidity, adverse developments affecting financial institutions, the current wars and conflicts, evolving trade policies between the U.S. and international trade partners, including the imposition of tariffs and other trade measures or restrictions, or the occurrence of similar events in other countries that lead to uncertainty or instability in economic, political or market conditions could negatively affect our business, operating results, financial condition and outlook, which, in turn, could adversely affect our stock price."}]}},{"ticker":"PANW","cik":"0001327567","rowId":"","companyName":"Palo Alto Networks Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Further, economic conditions, including inflation, high interest rates, slow growth, fluctuations in foreign exchange rates, supply chain disruptions, including increased memory, storage, or other component shortages and costs, impacts of trade regulations or international trade disputes, and other conditions, may materially and adversely affect our financial condition and operating results."},"evidence":[{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Further, economic conditions, including inflation, high interest rates, slow growth, fluctuations in foreign exchange rates, supply chain disruptions, including increased memory, storage, or other component shortages and costs, impacts of trade regulations or international trade disputes, and other conditions, may materially and adversely affect our financial condition and operating results."},{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Most of the securities we invest in are subject to interest rate risk."}]}},{"ticker":"PEP","cik":"0000077476","rowId":"","companyName":"PEPSICO INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"A deterioration in our underlying assumptions, or those of our equity method investees, regarding the impact of competitive operating conditions, geopolitical conditions, macroeconomic conditions, including the interest rate environment, or other factors used to estimate the future performance of any of our reporting units or assets, including any deterioration in the weighted-average cost of capital based on market data available at the time, as well as our ability to hold the investment until recovery of fair value to amortized cost for available-for-sale debt securities, have resulted and could in the future result in an impairment charge, thereby adversely affecting our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"A deterioration in our underlying assumptions, or those of our equity method investees, regarding the impact of competitive operating conditions, geopolitical conditions, macroeconomic conditions, including the interest rate environment, or other factors used to estimate the future performance of any of our reporting units or assets, including any deterioration in the weighted-average cost of capital based on market data available at the time, as well as our ability to hold the investment until recovery of fair value to amortized cost for available-for-sale debt securities, have resulted and could in the future result in an impairment charge, thereby adversely affecting our results of operations."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"In the normal course of business, we manage commodity price, foreign exchange and interest rate risks through a variety of strategies, including productivity initiatives, global purchasing programs and hedging."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"Market Risk ––We are subject to foreign exchange risk, interest rate risk, and equity price risk."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"Market Risk ––We are subject to foreign exchange risk, interest rate risk, and equity price risk."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The objective of our financial risk management program is to minimize the impact of foreign exchange rate and interest rate movements on our earnings."}]}},{"ticker":"PG","cik":"0000080424","rowId":"","companyName":"PROCTER & GAMBLE Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"As we refinance debt or renew derivatives, we are exposed to movement in global interest rates and rate differentials."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"As we refinance debt or renew derivatives, we are exposed to movement in global interest rates and rate differentials."},{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"We are exposed to various risks due to economic, political and social instabilities, market volatility, natural disasters, debt and credit issues, currency controls, new or increased tariffs, foreign exchange, the availability and cost of materials and interest rate changes."}]}},{"ticker":"PGR","cik":"0000080661","rowId":"","companyName":"PROGRESSIVE CORP/OH/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"• Prepayment or extension risk - applicable to certain securities in the portfolio, such as asset-backed securities and other bonds with call provisions, prepayment risk is the risk that, as interest rates change, the principal of such securities may be repaid earlier than anticipated, requiring that we reinvest the proceeds at less attractive rates."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"• Prepayment or extension risk - applicable to certain securities in the portfolio, such as asset-backed securities and other bonds with call provisions, prepayment risk is the risk that, as interest rates change, the principal of such securities may be repaid earlier than anticipated, requiring that we reinvest the proceeds at less attractive rates."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"Downgrades in our credit ratings could adversely affect our ability to access the capital markets and/or lead to increased borrowing costs in the future (although the interest rates we pay on our current indebtedness would not be affected), as would adverse recommendations by equity analysts at the various brokerage houses and investment firms."}]}},{"ticker":"PH","cik":"0000076334","rowId":"","companyName":"Parker-Hannifin Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"The funding requirements and the amount of expenses recorded for our defined benefit pension plans are dependent on changes in market interest rates and the value of plan assets, which are dependent on actual plan asset returns."},"evidence":[{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"The funding requirements and the amount of expenses recorded for our defined benefit pension plans are dependent on changes in market interest rates and the value of plan assets, which are dependent on actual plan asset returns."},{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"Significant changes in market interest rates and decreases in the fair value of plan assets and investment losses on plan assets would increase funding requirements and expenses and may adversely impact our results of operations."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, the weighted average remaining term of our consolidated debt was 9 years and the weighted average interest rate was 3.2%."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, the weighted average remaining term of our consolidated debt was 9 years and the weighted average interest rate was 3.2%."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"Our hedging of foreign currency and interest rate risk may not effectively limit our exposure to these risks."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"If software for the challenges that we address does not achieve widespread adoption, or there is a reduction in demand caused by a lack of customer acceptance, technological challenges, weakening economic conditions (including due to ongoing global conflicts and related economic sanctions, fluctuating interest rates, monetary policy changes, or the potential or actual imposition of tariffs or other impacts on trade relations), security or privacy concerns, competing technologies and products, decreases in corporate spending, or otherwise, or, alternatively, if the market develops but we are unable to continue to penetrate it due to the cost, performance, and perceived value associated with our platforms, or other factors, it could result in decreased revenue and our business, financial condition, and results of operations could be adversely affected."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"If software for the challenges that we address does not achieve widespread adoption, or there is a reduction in demand caused by a lack of customer acceptance, technological challenges, weakening economic conditions (including due to ongoing global conflicts and related economic sanctions, fluctuating interest rates, monetary policy changes, or the potential or actual imposition of tariffs or other impacts on trade relations), security or privacy concerns, competing technologies and products, decreases in corporate spending, or otherwise, or, alternatively, if the market develops but we are unable to continue to penetrate it due to the cost, performance, and perceived value associated with our platforms, or other factors, it could result in decreased revenue and our business, financial condition, and results of operations could be adversely affected."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Variable rate indebtedness that we may incur under our credit facility will subject us to interest rate risk, which could cause our debt service obligations to increase significantly."}]}},{"ticker":"PM","cik":"0001413329","rowId":"","companyName":"Philip Morris International Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Our financial performance, our credit ratings, interest rates, the stability of financial institutions with which we partner, geopolitical or national developments, the stability and liquidity of the credit markets and the state of the global economy could affect the availability and cost of financing."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Our financial performance, our credit ratings, interest rates, the stability of financial institutions with which we partner, geopolitical or national developments, the stability and liquidity of the credit markets and the state of the global economy could affect the availability and cost of financing."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Interest – The favorable impact of $0.09 per share from interest in the table above was primarily due to the impact of lower market interest rates on our variable-rate debt, as well as the favorable impact of derivative financial instruments."}]}},{"ticker":"QCOM","cik":"0000804328","rowId":"","companyName":"QUALCOMM INC/DE","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"In addition, any such refinancing, restructuring or sale of assets might not be available on economically favorable terms or at all, and if prevailing interest rates at the time of any such refinancing or restructuring are higher than our current rates, interest expense related to such refinancing or restructuring would increase."},"evidence":[{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"In addition, any such refinancing, restructuring or sale of assets might not be available on economically favorable terms or at all, and if prevailing interest rates at the time of any such refinancing or restructuring are higher than our current rates, interest expense related to such refinancing or restructuring would increase."},{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"We also entered into interest rate swaps which are designated as fair value hedges and allow us to effectively convert all of our fixed-rate payments due under the May 2025 Notes into floating-rate payments."}]}},{"ticker":"RTX","cik":"0000101829","rowId":"","companyName":"RTX Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"Our international sales and operations are sensitive to changes in foreign national priorities, foreign government budgets, and regional and local political and economic factors, including wars and armed conflicts, political or civil unrest, volatility in energy prices or supply, inflation, interest rates, changes in threat environments and political relations, and geopolitical uncertainties."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"Our international sales and operations are sensitive to changes in foreign national priorities, foreign government budgets, and regional and local political and economic factors, including wars and armed conflicts, political or civil unrest, volatility in energy prices or supply, inflation, interest rates, changes in threat environments and political relations, and geopolitical uncertainties."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"It exposes us to interest rate and credit market risk at the time of refinancing outstanding debt, as well as these same risks on our commercial paper obligations, which are issued at variable rates."}]}},{"ticker":"SCHW","cik":"0000316709","rowId":"","companyName":"SCHWAB CHARLES CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"Our business can be adversely affected by the general environment – economic, corporate, securities market, regulatory, and geopolitical developments all play a role in client asset valuations, trading activity, interest rates, and overall investor engagement, and are outside of our control."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"Our business can be adversely affected by the general environment – economic, corporate, securities market, regulatory, and geopolitical developments all play a role in client asset valuations, trading activity, interest rates, and overall investor engagement, and are outside of our control."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"For example, as a result of rapid increases in short-term interest rates in 2022 and 2023, the Company saw a significant decrease in clients’ asset allocation to sweep cash and greater client investment in higher-yielding alternatives at Schwab such as fixed income investments and proprietary purchased money market funds."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic conditions, including, but not limited to, volatility in the financial markets, tighter credit, recession, inflation, rising interest rates, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, trade war, other macroeconomic factors, or changes to social conditions and regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},"evidence":[{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic conditions, including, but not limited to, volatility in the financial markets, tighter credit, recession, inflation, rising interest rates, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, trade war, other macroeconomic factors, or changes to social conditions and regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Additi onal information regarding our indebtedness, including information about availability under our revolving credit facility and the principal repayment terms, interest rates, covenants, collateral and other key terms of our outstanding indebtedness, is included in Part II, Item 8., Note 8, Debt of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• Changes in the volume of securities issued and traded in domestic and/or global capital markets, asset levels and flows into investment products, high interest rates, changes in interest rates and volatility in the financial markets, and volatility in the energy and commodity markets impact our business, financial condition or results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• Changes in the volume of securities issued and traded in domestic and/or global capital markets, asset levels and flows into investment products, high interest rates, changes in interest rates and volatility in the financial markets, and volatility in the energy and commodity markets impact our business, financial condition or results of operations."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• High or increasing interest rates or credit spreads, volatility in financial markets or the interest rate environment, significant political or economic events, defaults of significant issuers and other market and economic factors may negatively impact the general level of debt issuance, the debt issuance plans of certain categories of borrowers, the level of derivatives trading and/or the types of credit-sensitive products being offered, which impact our Ratings segment and portions of our Market Intelligence, Energy and Indices segments, and in the future could have a material adverse effect on our business, financial condition or results of operations."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"• issuing common stock (potentially creating dilution) or incurring additional debt in order to finance a transaction, which financings may require us to accept onerous terms such as high interest rates or covenants that restrict our business;"},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"• issuing common stock (potentially creating dilution) or incurring additional debt in order to finance a transaction, which financings may require us to accept onerous terms such as high interest rates or covenants that restrict our business;"},{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"Significant inflation and elevated interest rates have negatively affected our business in recent quarters and could continue to negatively affect our business, operating results or financial condition or the markets in which we operate, which, in turn, could adversely affect the price of our ordinary shares."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Adverse changes in the U.S. securities markets, a higher interest rate environment, rising inflation and medical costs could materially increase our benefit plan costs and future funding requirements."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Adverse changes in the U.S. securities markets, a higher interest rate environment, rising inflation and medical costs could materially increase our benefit plan costs and future funding requirements."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"In calculating the recognized benefit costs, we have made certain assumptions regarding future investment returns, interest rates and medical costs."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Changes in the capital and credit markets and general market disruptions, such as prolonged volatility or significant disruption of global financial markets relating to the financial and regulatory environment; interest rate fluctuations; geopolitical conflict; and disruptions impacting traditional banking, have in the past increased and may continue to increase the cost of financing or may restrict our access to potential sources of liquidity on acceptable terms or at all, and impede our ability to comply with debt covenants."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Changes in the capital and credit markets and general market disruptions, such as prolonged volatility or significant disruption of global financial markets relating to the financial and regulatory environment; interest rate fluctuations; geopolitical conflict; and disruptions impacting traditional banking, have in the past increased and may continue to increase the cost of financing or may restrict our access to potential sources of liquidity on acceptable terms or at all, and impede our ability to comply with debt covenants."},{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"For example, in recent years, increased freight costs related to labor, equipment and capacity shortages involving freight hauling, increased interest rates and other factors, had an adverse impact on our margins."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company is exposed to market risk from changes in interest rates and currency exchange rates, which could affect its future results of operations and financial condition."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company is exposed to market risk from changes in interest rates and currency exchange rates, which could affect its future results of operations and financial condition."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company has periodically hedged interest rate risks of fixed-rate instruments with offsetting interest rate swaps."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"However, we operate in a cyclical industry that is sensitive to shifting consumer trends, political and regulatory uncertainty, including with respect to trade and the environment, all of which can be compounded by inflationary pressures, rising energy prices, interest rate fluctuations and the liquidity of enterprise customers."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"However, we operate in a cyclical industry that is sensitive to shifting consumer trends, political and regulatory uncertainty, including with respect to trade and the environment, all of which can be compounded by inflationary pressures, rising energy prices, interest rate fluctuations and the liquidity of enterprise customers."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Interest income increased $111 million, or 7%, in the year ended December 31, 2025 as compared to the year ended December 31, 2024, primarily due to higher interest earned on our cash and cash equivalents and short-term investments due to an increase in our average portfolio balance, partially offset by a lower average interest rate."}]}},{"ticker":"TXN","cik":"0000097476","rowId":"","companyName":"TEXAS INSTRUMENTS INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"From time to time, we issue debt securities with various interest rates and maturities."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"From time to time, we issue debt securities with various interest rates and maturities."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"We have the following potential exposure to changes in interest rates: (i) the effect of changes in interest rates on the fair value of our investments in cash equivalents and short-term investments, which could produce a gain or a loss; and (ii) the effect of changes in interest rates on the fair value of our debt."}]}},{"ticker":"UBER","cik":"0001543151","rowId":"","companyName":"Uber Technologies, Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"inflation and higher interest rates, changes in labor market dynamics, or decreases in consumer spending power may harm our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"inflation and higher interest rates, changes in labor market dynamics, or decreases in consumer spending power may harm our results of operations."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"In addition, we are exposed to interest rate risk related to some of our indebtedness, which is discussed in greater detail under the section titled “Management's Discussion and Analysis of Financial Condition and Results of Operations - Quantitative and Qualitative Disclosures About Market Risk - Interest Rate Risk.”"}]}},{"ticker":"UNH","cik":"0000731766","rowId":"","companyName":"UNITEDHEALTH GROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Volatility in interest rates affects our interest income and the market value of our investments in debt securities of varying maturities which constitute the substantial majority of the fair value of our investments as of December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Volatility in interest rates affects our interest income and the market value of our investments in debt securities of varying maturities which constitute the substantial majority of the fair value of our investments as of December 31, 2025."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Changes in the value of our investment assets, as a result of interest rate fluctuations, changes in issuer financial or market conditions, illiquidity or otherwise, could have an adverse effect on our equity interests."}]}},{"ticker":"UNP","cik":"0000100885","rowId":"","companyName":"UNION PACIFIC CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"Significant instability or disruptions of the capital markets, including, among other things, elevated interest rates in the credit markets and/or changes in interest rates, or deterioration of our financial condition due to internal or external factors could restrict or prohibit our access to, and significantly increase the cost of, commercial paper and other financing sources, including bank credit facilities and the issuance of long-term debt, including corporate bonds, and could also have a material adverse effect on our results of operations, financial condition, and liquidity."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"Significant instability or disruptions of the capital markets, including, among other things, elevated interest rates in the credit markets and/or changes in interest rates, or deterioration of our financial condition due to internal or external factors could restrict or prohibit our access to, and significantly increase the cost of, commercial paper and other financing sources, including bank credit facilities and the issuance of long-term debt, including corporate bonds, and could also have a material adverse effect on our results of operations, financial condition, and liquidity."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"We are affected by general economic conditions – Prolonged, severe adverse domestic and global macroeconomic conditions or disruptions of financial and credit markets, including, for example, the cycles of recessionary fears, inflationary pressures, changes in interest rates, and/or related monetary policy actions by governments in response to inflation, may affect the producers and consumers of the commodities we carry and may have a material adverse effect on our access to liquidity, results of operations, and financial condition."}]}},{"ticker":"V","cik":"0001403161","rowId":"","companyName":"VISA INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"Our exposure to financial market risks results primarily from fluctuations in foreign currency exchange rates, interest rates and equity prices."},"evidence":[{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"Our exposure to financial market risks results primarily from fluctuations in foreign currency exchange rates, interest rates and equity prices."},{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"As of September 30, 2025 and 2024, a hypothetical 100 basis point increase in interest rates did not have a material impact on the fair value of our investment securities."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Factors outside of our control, such as economic, legal, regulatory, and political uncertainties; global geopolitical and other conflicts and tensions; inflation (and the potential for increased prices to reduce demand); prolonged periods of high interest rates; and public health crises (such as pandemics or epidemics) have negatively affected, and many such factors could continue to negatively affect, economic activity and growth levels of the U.S."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Factors outside of our control, such as economic, legal, regulatory, and political uncertainties; global geopolitical and other conflicts and tensions; inflation (and the potential for increased prices to reduce demand); prolonged periods of high interest rates; and public health crises (such as pandemics or epidemics) have negatively affected, and many such factors could continue to negatively affect, economic activity and growth levels of the U.S."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Unstable or illiquid financial market conditions and periods of prolonged high interest rates could also negatively impact our pension plans’ assets and funding requirements."}]}},{"ticker":"VRTX","cik":"0000875320","rowId":"","companyName":"VERTEX PHARMACEUTICALS INC / MA","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm","accession":"0000875320-26-000056","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, the value of our investment portfolio, and inflation affect our results"},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm","accession":"0000875320-26-000056","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, the value of our investment portfolio, and inflation affect our results"},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm","accession":"0000875320-26-000056","reportDate":"2025-12-31","text":"Fluctuations in currency exchange rates and interest rates, changes in the value of our investment portfolio, and inflation"}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing;"},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing;"},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• exposing us to increased interest rate risk to the extent that (i) our debt obligations are subject to variable interest rates or (ii) we need to refinance existing debt that bears interest at a rate lower than current market rates."}]}},{"ticker":"WDC","cik":"0000106040","rowId":"","companyName":"WESTERN DIGITAL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"• A substantial or extended decline in gold, copper, silver, lead or zinc prices would have a material adverse effect on us."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. 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These are different exposures.","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Other (expense) income, net, changed unfavorably by $1.11 billion in the year ended December 31, 2025 as compared to the year ended December 31, 2024 primarily due to mark-to-market on our bitcoin digital assets and fluctuations in foreign currency exchange rates on our intercompany balances."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Other (expense) income, net, changed unfavorably by $1.11 billion in the year ended December 31, 2025 as compared to the year ended December 31, 2024 primarily due to mark-to-market on our bitcoin digital assets and fluctuations in foreign currency exchange rates on our intercompany balances."}]}}],"reportDate":"2026-09-08","priorDate":"2026-09-01","title":"Bitcoin Futures: Leveraged Funds net share increased","description":"Net positioning decreased by 272 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement) at the Company’s option."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement) at the Company’s option."},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Each Term SOFR Loan will bear interest at a rate per annum equal to the applicable adjusted term SOFR plus a margin based on the Company’s Debt Ratings (as defined in the Revolving Credit Agreement) from time to time of between 0.46 % and 0.90 %."}]},"relatedCompanies":[{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement) at the Company’s option."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Revolving loans under the Revolving Credit Agreement can be Term SOFR Loans or Base Rate Loans (each as defined in the Revolving Credit Agreement) at the Company’s option."},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Each Term SOFR Loan will bear interest at a rate per annum equal to the applicable adjusted term SOFR plus a margin based on the Company’s Debt Ratings (as defined in the Revolving Credit Agreement) from time to time of between 0.46 % and 0.90 %."}]}},{"ticker":"AMD","cik":"0000002488","rowId":"","companyName":"ADVANCED MICRO DEVICES INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"In 2024, the Company provided a $ 100 million term loan to one of the ATMP JVs for general corporate purposes, with interest at the three months term Secured Overnight Financing Rate (SOFR) plus 50 basis points, payable quarterly."},"evidence":[{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"In 2024, the Company provided a $ 100 million term loan to one of the ATMP JVs for general corporate purposes, with interest at the three months term Secured Overnight Financing Rate (SOFR) plus 50 basis points, payable quarterly."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To achieve a desired mix of fixed-rate and floating-rate debt, we entered into interest rate swap contracts that effectively converted a fixed-rate interest coupon for certain of our debt issuances to a floating, SOFR-based coupon over the terms of the respective notes."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To achieve a desired mix of fixed-rate and floating-rate debt, we entered into interest rate swap contracts that effectively converted a fixed-rate interest coupon for certain of our debt issuances to a floating, SOFR-based coupon over the terms of the respective notes."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"As of December 31, 2025, we had $ 1.8  billion of borrowings outstanding under the term loan credit agreement, which has an interest rate of three-month SOFR plus 1.225 % and is due in October 2026."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In January 2023, we entered into an $ 8.0 billion unsecured 364-day term loan with a syndicate of lenders (the “Term Loan”), maturing in January 2024 and bearing interest at the Secured Overnight Financing Rate specified in the Term Loan plus 0.75 %."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In January 2023, we entered into an $ 8.0 billion unsecured 364-day term loan with a syndicate of lenders (the “Term Loan”), maturing in January 2024 and bearing interest at the Secured Overnight Financing Rate specified in the Term Loan plus 0.75 %."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Revolving Credit Facility matures in March 2029 and gives the Company and certain of its subsidiaries the ability to borrow, in various currencies, at a spread that varies, based on the Company’s debt rating, over certain currency-specific benchmark rates, which benchmark rates, in the case of U.S. dollar borrowings, are either the base rate or the adjusted term Secured Overnight Financing Rate (“SOFR”)."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Revolving Credit Facility matures in March 2029 and gives the Company and certain of its subsidiaries the ability to borrow, in various currencies, at a spread that varies, based on the Company’s debt rating, over certain currency-specific benchmark rates, which benchmark rates, in the case of U.S. dollar borrowings, are either the base rate or the adjusted term Secured Overnight Financing Rate (“SOFR”)."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"Interest rates under each Delayed Draw Term Loan are based on a spread over either the base rate or the adjusted term SOFR, which spread varies based on the Company’s debt rating."}]}},{"ticker":"AVGO","cik":"0001730168","rowId":"","companyName":"Broadcom Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"The 2023 Term Loans bore interest, payable monthly or every three months at our election, at floating interest rates tied to the Secured Overnight Financing Rate (“SOFR”)."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"The 2023 Term Loans bore interest, payable monthly or every three months at our election, at floating interest rates tied to the Secured Overnight Financing Rate (“SOFR”)."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"The borrowings under the Informatica Credit Agreements bear interest at a fluctuating rate per annum equal to, at our option, an alternate base rate or term Secured Overnight Financing Rate (“SOFR”), in each case, plus an applicable margin calculated based on our credit ratings."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"The borrowings under the Informatica Credit Agreements bear interest at a fluctuating rate per annum equal to, at our option, an alternate base rate or term Secured Overnight Financing Rate (“SOFR”), in each case, plus an applicable margin calculated based on our credit ratings."}]}},{"ticker":"CVX","cik":"0000093410","rowId":"","companyName":"CHEVRON CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Any borrowings under these facilities would be unsecured indebtedness at interest rates based on the Secured Overnight Financing Rate (SOFR), or an average of base lending rates published by specified banks and on terms reflecting the company’s strong credit rating."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Any borrowings under these facilities would be unsecured indebtedness at interest rates based on the Secured Overnight Financing Rate (SOFR), or an average of base lending rates published by specified banks and on terms reflecting the company’s strong credit rating."}]}},{"ticker":"DELL","cik":"0001571996","rowId":"","companyName":"Dell Technologies Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The margin applicable to SOFR and base rate borrowings varies based upon the Company’s existing credit ratings."},"evidence":[{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The margin applicable to SOFR and base rate borrowings varies based upon the Company’s existing credit ratings."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Under the Company’s U.S. dollar and euro-denominated commercial paper program, the notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to the Secured Overnight Financing Rate or Euro Interbank Offer Rate, depending on the applicable currency of the borrowing."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Under the Company’s U.S. dollar and euro-denominated commercial paper program, the notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to the Secured Overnight Financing Rate or Euro Interbank Offer Rate, depending on the applicable currency of the borrowing."}]}},{"ticker":"DIS","cik":"0001744489","rowId":"","companyName":"Walt Disney Co","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"The Company’s bank facilities allow for borrowings at rates based on the Secured Overnight Financing Rate (SOFR) and at other variable rates for non-U.S. dollar denominated borrowings, plus a fixed spread that varies with the Company’s debt ratings assigned by Moody’s Ratings and S&P Global Ratings ranging from 0.63% to 1.1%."},"evidence":[{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"The Company’s bank facilities allow for borrowings at rates based on the Secured Overnight Financing Rate (SOFR) and at other variable rates for non-U.S. dollar denominated borrowings, plus a fixed spread that varies with the Company’s debt ratings assigned by Moody’s Ratings and S&P Global Ratings ranging from 0.63% to 1.1%."},{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"The Company has entered into pay-floating interest rate and cross-currency swaps that effectively convert the borrowing to a variable-rate U.S. dollar denominated borrowing indexed to SOFR."}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"Loans under our revolving credit facility bear interest at either (i) Term Secured Overnight Financing Rate plus the Applicable Percentage, (ii) the Alternative Currency Term Rate plus the Applicable Percentage, or (iii) the Base Rate plus the Applicable Percentage, each as defined in the revolving credit facility agreement."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"Loans under our revolving credit facility bear interest at either (i) Term Secured Overnight Financing Rate plus the Applicable Percentage, (ii) the Alternative Currency Term Rate plus the Applicable Percentage, or (iii) the Base Rate plus the Applicable Percentage, each as defined in the revolving credit facility agreement."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"The primary objective of our investment policy is to preserve principal and provide financial flexibility to fund our business while maximizing yields, which generally track SOFR."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"The primary objective of our investment policy is to preserve principal and provide financial flexibility to fund our business while maximizing yields, which generally track SOFR."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We generally enter into interest rate contracts to convert the returns on our fixed-rate debt investments with remaining maturities longer than six months into SOFR-based returns."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"In 2026, we entered into interest rate swaps which are designated as fair value hedges and allow us to convert a portion of our fixed-rate payments under the senior, unsecured long-term notes issued in June 2022 (“2022 Senior Notes”) into floating-rate payments based on the Daily Secured Overnight Financing Rate swap rate plus a fixed number of basis points."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"In 2026, we entered into interest rate swaps which are designated as fair value hedges and allow us to convert a portion of our fixed-rate payments under the senior, unsecured long-term notes issued in June 2022 (“2022 Senior Notes”) into floating-rate payments based on the Daily Secured Overnight Financing Rate swap rate plus a fixed number of basis points."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We manage our exposure to certain interest rate risks related to our Senior Notes through the use of interest rate swaps that effectively convert the fixed interest rates to floating interest rates based on the Daily Secured Overnight Financing Rate swap rate plus a fixed number of basis points."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Interest on amounts borrowed under the credit facility is, at the Company’s option, based on (1) a base rate, plus a spread of 0.00 % to 0.10 %, or (2) an adjusted term Secured Overnight Financing Rate, plus a spread of 0.70 % to 1.10 %, in each case plus a facility fee, with such spread and facility fee determined in accordance with the Third Amended and Restated Credit Agreement, and with the spread and facility fee based on the rating of the Company’s non-credit enhanced, senior unsecured long-term debt."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Interest on amounts borrowed under the credit facility is, at the Company’s option, based on (1) a base rate, plus a spread of 0.00 % to 0.10 %, or (2) an adjusted term Secured Overnight Financing Rate, plus a spread of 0.70 % to 1.10 %, in each case plus a facility fee, with such spread and facility fee determined in accordance with the Third Amended and Restated Credit Agreement, and with the spread and facility fee based on the rating of the Company’s non-credit enhanced, senior unsecured long-term debt."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"We expect interest rates on borrowings under our Credit Agreement to be based on the Term Secured Overnight Financing Rate plus a percentage based on the higher of the ratings of our long-term senior unsecured debt from Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Financial Services LLC (“S&P”)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"We expect interest rates on borrowings under our Credit Agreement to be based on the Term Secured Overnight Financing Rate plus a percentage based on the higher of the ratings of our long-term senior unsecured debt from Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Financial Services LLC (“S&P”)."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Borrowings under the MPC Credit Agreement bear interest, at our election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPC Credit Agreement, plus an applicable margin ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Borrowings under the MPC Credit Agreement bear interest, at our election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPC Credit Agreement, plus an applicable margin ."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Borrowings under the Term Loan Agreement will generally bear interest at adjusted term SOFR plus an applicable interest rate margin ranging from 0.875 % to 1.50 %, depending on our corporate credit ratings."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Borrowings under the Term Loan Agreement will generally bear interest at adjusted term SOFR plus an applicable interest rate margin ranging from 0.875 % to 1.50 %, depending on our corporate credit ratings."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Under the Revolving Credit Facility, borrowing would generally bear interest at a rate equal to adjusted term SOFR plus 0.875 % to 1.50 %, depending on our corporate credit ratings."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"In November 2020, the Company and Barrick entered into an agreement with Pueblo Viejo to provide funding for the expansion of Pueblo Viejo's operations of up to $ 1,300 ($ 520 attributable to Newmont's 40 % ownership interest) through a loan facility bearing interest at 95 % of the 6-month SOFR plus 4.25 % which is compounded semi-annually in arrears on February 28 and August 31 of each year (“Loan Facility”)."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"In November 2020, the Company and Barrick entered into an agreement with Pueblo Viejo to provide funding for the expansion of Pueblo Viejo's operations of up to $ 1,300 ($ 520 attributable to Newmont's 40 % ownership interest) through a loan facility bearing interest at 95 % of the 6-month SOFR plus 4.25 % which is compounded semi-annually in arrears on February 28 and August 31 of each year (“Loan Facility”)."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"In October 2024, the Company and Barrick agreed to provide additional funding of up to $ 800 ($ 320 attributable to Newmont's 40 % ownership interest) through an additional loan facility bearing interest at the 6-month SOFR plus 3.81 % which is compounded semi-annually in arrears on February 15 and August 15 of each year and matures on February 15, 2039 (“Loan Facility II”)."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The borrowings under the Revolving Credit Agreement bear interest, at the Company’s option, of either (i) a floating rate per annum equal to a base rate (the “Alternate Base Rate”) plus an applicable margin or (ii) a per annum rate equal to an adjusted term SOFR rate (the “Adjusted Term SOFR Rate”) plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The borrowings under the Revolving Credit Agreement bear interest, at the Company’s option, of either (i) a floating rate per annum equal to a base rate (the “Alternate Base Rate”) plus an applicable margin or (ii) a per annum rate equal to an adjusted term SOFR rate (the “Adjusted Term SOFR Rate”) plus an applicable margin."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The applicable margin for Alternate Base Rate loans will range from 0.00 % to 0.25 %, and the applicable margin for Adjusted Term SOFR Rate loans will range from 0.75 % to 1.25 %, each based on the Company’s credit ratings."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Interest is based on either (a) a Term Secured Overnight Financing Rate (SOFR)-based formula plus a margin of 87.5 basis points to 150.0 basis points, depending on the credit rating assigned to our long-term senior unsecured debt, or (b) a Base Rate formula plus a margin of 0.0 basis point to 50.0 basis points, depending on the same such credit rating, each as set forth in the Revolving Credit Agreement."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Interest is based on either (a) a Term Secured Overnight Financing Rate (SOFR)-based formula plus a margin of 87.5 basis points to 150.0 basis points, depending on the credit rating assigned to our long-term senior unsecured debt, or (b) a Base Rate formula plus a margin of 0.0 basis point to 50.0 basis points, depending on the same such credit rating, each as set forth in the Revolving Credit Agreement."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Interest is based on either (a) a Term SOFR-based formula plus a margin of 112.5 basis points to 162.5 basis points, depending on the credit rating assigned to our long-term senior unsecured debt, or (b) a Base Rate formula plus a margin of 12.5 basis points to 62.5 basis points, depending on the same such credit rating, each as set forth in the Term Loan Credit Agreement 2."}]}},{"ticker":"PANW","cik":"0001327567","rowId":"","companyName":"Palo Alto Networks Inc","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"The borrowings under the Credit Facility bear interest, at our option, at a base rate plus a spread of 0.000 % to 0.375 %, or an adjusted term Secured Overnight Financing Rate plus a spread of 1.000 % to 1.375 %, in each case with such spread being determined based on our leverage ratio."},"evidence":[{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"The borrowings under the Credit Facility bear interest, at our option, at a base rate plus a spread of 0.000 % to 0.375 %, or an adjusted term Secured Overnight Financing Rate plus a spread of 1.000 % to 1.375 %, in each case with such spread being determined based on our leverage ratio."}]}},{"ticker":"PH","cik":"0000076334","rowId":"","companyName":"Parker-Hannifin Corp","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"Borrowings under the Credit Facilities are expected to bear interest at a secured overnight financing rate plus an applicable margin, and we were obligated to pay certain fees on the undrawn portion of the commitments until the closing of the FGC acquisition."},"evidence":[{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"Borrowings under the Credit Facilities are expected to bear interest at a secured overnight financing rate plus an applicable margin, and we were obligated to pay certain fees on the undrawn portion of the commitments until the closing of the FGC acquisition."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our loans under our credit facility would incur interest at the Secured Overnight Financing Rate (“SOFR”) as administered by the Federal Reserve Bank of New York, or a successor administrator of the SOFR (or the applicable benchmark replacement) plus 2.00% or a base rate plus 1.00%, subject to certain adjustments, and would generally be payable quarterly."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our loans under our credit facility would incur interest at the Secured Overnight Financing Rate (“SOFR”) as administered by the Federal Reserve Bank of New York, or a successor administrator of the SOFR (or the applicable benchmark replacement) plus 2.00% or a base rate plus 1.00%, subject to certain adjustments, and would generally be payable quarterly."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"The Term Loan Facility bore interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an interest rate margin of 3.00 % per annum or (y) a base rate plus an interest rate margin of 2.00 % per annum."},"evidence":[{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"The Term Loan Facility bore interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an interest rate margin of 3.00 % per annum or (y) a base rate plus an interest rate margin of 2.00 % per annum."},{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Borrowings under the Revolving Credit Facility, for U.S. dollar borrowings, will bear interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement), which rate includes a credit spread adjustment of 0.10 %, plus an interest rate margin of 2.00 % per annum (subject to step-ups based on the Company’s Leverage Ratio (as defined in the Loan Agreement)), or (y) a base rate plus an interest rate margin of 1.00 % per annum (subject to step-ups based on the Company’s Leverage Ratio (as defined in the Loan Agreement))."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"The loans made under the Credit Agreement will bear interest at an Applicable Rate based on the secured overnight financing rate, or SOFR, plus a variable margin that will be determined based on the corporate credit rating of the Company."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"The loans made under the Credit Agreement will bear interest at an Applicable Rate based on the secured overnight financing rate, or SOFR, plus a variable margin that will be determined based on the corporate credit rating of the Company."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"The Applicable Margin for SOFR Rate Term Advances will be equal to 0.450 %, 0.575 %, 0.825 %, 0.950 % and 1.075 % per annum for the 364-Day Term Loan Facility and 0.550 %, 0.675 %, 0.925 %, 1.050 % and 1.175 % per annum for the Two-Year Term Loan Facility, in each case, depending on our senior unsecured long-term debt ratings."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"The Applicable Margin for SOFR Rate Term Advances will be equal to 0.450 %, 0.575 %, 0.825 %, 0.950 % and 1.075 % per annum for the 364-Day Term Loan Facility and 0.550 %, 0.675 %, 0.925 %, 1.050 % and 1.175 % per annum for the Two-Year Term Loan Facility, in each case, depending on our senior unsecured long-term debt ratings."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"The Applicable Margin for Base Rate Term Advances under the Term Loan will be equal to the greater of (x) 0.00 % and (y) the relevant Applicable Margin for SOFR Rate Term Advances minus 1.00 % per annum, depending on our unsecured long-term debt ratings."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Additionally, on May 9, 2025, the Company amended and restated its $ 1  billion revolving credit facility (as amended, the 2030 Revolving Credit Facility) to (i) extend the maturity to May 9, 2030, (ii) decrease the aggregate principal amount of commitments to $ 750 million and (iii) reduce the interest rate margin applicable to borrowings bearing interest at a term secured overnight financing rate to a margin of 45.0 - 87.5 basis points consistent with the 2029 Revolving Credit Facility."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Additionally, on May 9, 2025, the Company amended and restated its $ 1  billion revolving credit facility (as amended, the 2030 Revolving Credit Facility) to (i) extend the maturity to May 9, 2030, (ii) decrease the aggregate principal amount of commitments to $ 750 million and (iii) reduce the interest rate margin applicable to borrowings bearing interest at a term secured overnight financing rate to a margin of 45.0 - 87.5 basis points consistent with the 2029 Revolving Credit Facility."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"UBER","cik":"0001543151","rowId":"","companyName":"Uber Technologies, Inc","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"Loans under the Credit Agreement will bear interest, at our option, at either the term SOFR rate (determined in accordance with the Credit Agreement) plus an initial margin of 1.00 % per annum or the base rate (determined in accordance with the Credit Agreement) plus an initial margin of 0.00 % per annum."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"Loans under the Credit Agreement will bear interest, at our option, at either the term SOFR rate (determined in accordance with the Credit Agreement) plus an initial margin of 1.00 % per annum or the base rate (determined in accordance with the Credit Agreement) plus an initial margin of 0.00 % per annum."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"The applicable margin over the term SOFR rate and the base rate, as well as the commitment fee, will fluctuate based upon the ratings of our non-credit enhanced senior unsecured long-term debt."}]}},{"ticker":"UNP","cik":"0000100885","rowId":"","companyName":"UNION PACIFIC CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"The Facility allows for borrowings at floating rates based on Term Secured Overnight Financing Rate (SOFR), plus a spread, depending upon credit ratings for our senior unsecured debt."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"The Facility allows for borrowings at floating rates based on Term Secured Overnight Financing Rate (SOFR), plus a spread, depending upon credit ratings for our senior unsecured debt."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"In October 2025, we amended our revolving credit facility (the Valero Revolver), which has a borrowing capacity of $ 4  billion, to extend the maturity date from November 2027 to October 2030 and to modify the reference interest rate from the Adjusted Term SOFR, a secured overnight financing rate (SOFR), to the Term SOFR."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"In October 2025, we amended our revolving credit facility (the Valero Revolver), which has a borrowing capacity of $ 4  billion, to extend the maturity date from November 2027 to October 2030 and to modify the reference interest rate from the Adjusted Term SOFR, a secured overnight financing rate (SOFR), to the Term SOFR."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Effective October 2025, outstanding borrowings under the Valero Revolver bear interest, at our option, at either (i) the Term SOFR or (ii) the Alternate Base Rate (each of these rates is defined in the Valero Revolver), plus the applicable margins."}]}},{"ticker":"WDC","cik":"0000106040","rowId":"","companyName":"WESTERN DIGITAL CORP","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Borrowings under the Loan Agreement bear interest, at the Company’s option, at a per annum rate equal to either (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an applicable margin varying from 1.125 % to 2.000 % or (y) a base rate plus an applicable margin varying from 0.125 % to 1.000 %, in each case depending on the corporate family ratings of the Company from at least two of the Credit Rating Agencies (as defined in the Loan Agreement)."},"evidence":[{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Borrowings under the Loan Agreement bear interest, at the Company’s option, at a per annum rate equal to either (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an applicable margin varying from 1.125 % to 2.000 % or (y) a base rate plus an applicable margin varying from 0.125 % to 1.000 %, in each case depending on the corporate family ratings of the Company from at least two of the Credit Rating Agencies (as defined in the Loan Agreement)."}]}},{"ticker":"WELL","cik":"0000766704","rowId":"","companyName":"WELLTOWER INC.","candidate":{"label":"Three-Month SOFR","reason":"The SEC annual filing contains a business or financial-risk passage mentioning sofr. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How much borrowing reprices with SOFR, and how much is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Based on our current credit ratings and annual sustainability results, the loans under the unsecured revolving credit facility currently bear interest at 0.705 % over the adjusted SOFR rate at December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Based on our current credit ratings and annual sustainability results, the loans under the unsecured revolving credit facility currently bear interest at 0.705 % over the adjusted SOFR rate at December 31, 2025."}]}}],"reportDate":"2026-09-08","priorDate":"2026-09-01","title":"Three-Month SOFR: Leveraged Funds net share decreased","description":"Net positioning decreased by 197,465 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of € 3.1  billion at December 31, 2025 and December 31, 2024."}]},"relatedCompanies":[{"ticker":"ABBV","cik":"0001551152","rowId":"","companyName":"AbbVie Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of € 3.1  billion at December 31, 2025 and December 31, 2024."}]}},{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Currently, our largest foreign currency exposure is the Euro, primarily because our European operations have the highest proportion of our local currency denominated expenses."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Currently, our largest foreign currency exposure is the Euro, primarily because our European operations have the highest proportion of our local currency denominated expenses."},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"Our international operations are affected by fluctuations in the value of the U.S. dollar compared with foreign currencies, predominantly the euro."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company has excluded expected interest payments on the Revolving Credit Facility, Commercial Paper Program and Euro Commercial Paper Program from the above table, as this calculation is largely dependent on average debt levels during each of the years presented."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company has excluded expected interest payments on the Revolving Credit Facility, Commercial Paper Program and Euro Commercial Paper Program from the above table, as this calculation is largely dependent on average debt levels during each of the years presented."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"Company’s Common Stock of $665.2, (c) dividend payments of $802.2, (d) payments of $89.1 related to debt financing costs associated with the Delayed Draw Term Loans, as well as the issuances of the 2028 Senior Notes, the 2032 Euro Notes and the November Senior Notes, (e) settlement of the treasury locks of $88.0, and (f) distributions to and purchases of noncontrolling interests of $5.8."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"In addition, we may designate certain portions of the aggregate principal value of our Euro-denominated debt as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company’s revenue and expense generated in foreign currencies (primarily the euro and British pound) are impacted by foreign exchange rates."}]}},{"ticker":"BMY","cik":"0000014272","rowId":"","companyName":"BRISTOL MYERS SQUIBB CO","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"In November 2025, BMS Ireland Capital Funding Designated Activity Company, a wholly-owned subsidiary of Bristol-Myers Squibb, completed a registered public offering of €5.0 billion in aggregate principal amount of euro-denominated senior unsecured notes (\"2025 Senior Unsecured Notes\"), with proceeds, net of loan issuance costs, of $5.7 billion."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"In November 2025, BMS Ireland Capital Funding Designated Activity Company, a wholly-owned subsidiary of Bristol-Myers Squibb, completed a registered public offering of €5.0 billion in aggregate principal amount of euro-denominated senior unsecured notes (\"2025 Senior Unsecured Notes\"), with proceeds, net of loan issuance costs, of $5.7 billion."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Cross-currency swap contracts are used to manage risk arising from long-term debt denominated in euros and to hedge the Company's net investment in its foreign subsidiaries."}]}},{"ticker":"CAT","cik":"0000018230","rowId":"","companyName":"CATERPILLAR INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"Our primary exposure (excluding competitive risk) is to exchange rate movements in the Australian dollar, Chinese yuan, Euro, Indian rupee and Mexican peso."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"Our primary exposure (excluding competitive risk) is to exchange rate movements in the Australian dollar, Chinese yuan, Euro, Indian rupee and Mexican peso."}]}},{"ticker":"CB","cik":"0000896159","rowId":"","companyName":"Chubb Ltd","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"From time to time, we use derivatives to hedge planned cross-border transactions, and designate certain derivatives to hedge foreign currency risk on our euro denominated debt and exposure in the net investments of certain foreign subsidiaries."},"evidence":[{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"From time to time, we use derivatives to hedge planned cross-border transactions, and designate certain derivatives to hedge foreign currency risk on our euro denominated debt and exposure in the net investments of certain foreign subsidiaries."},{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Chubb holds certain cross-currency swaps designated as fair value hedges and net investment hedges for foreign currency exposure associated with portions of our euro denominated debt and the net investment in certain foreign subsidiaries, respectively."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are also exposed to foreign exchange risk due to changes in the dollar-denominated value of future earnings and cash flows from our foreign operations and from our Euro (“EUR”)-denominated borrowing."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are also exposed to foreign exchange risk due to changes in the dollar-denominated value of future earnings and cash flows from our foreign operations and from our Euro (“EUR”)-denominated borrowing."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"Our non-dollar denominated intercompany funding and EUR-denominated borrowing expose our earnings to foreign exchange transaction risk."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"As of December 31, 2025, the Company has classified approximately $3.5 billion of its borrowings outstanding under the euro-denominated commercial paper program, the 2026 Biopharma Euronotes and the 2026 Euronotes as long-term debt in the Consolidated Balance Sheet as the Company has the intent and ability, as supported by availability under the Credit Facility, to refinance these borrowings for at least one year from the balance sheet date."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"As of December 31, 2025, the Company has classified approximately $3.5 billion of its borrowings outstanding under the euro-denominated commercial paper program, the 2026 Biopharma Euronotes and the 2026 Euronotes as long-term debt in the Consolidated Balance Sheet as the Company has the intent and ability, as supported by availability under the Credit Facility, to refinance these borrowings for at least one year from the balance sheet date."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Under the Company’s U.S. dollar and euro-denominated commercial paper program, the notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to the Secured Overnight Financing Rate or Euro Interbank Offer Rate, depending on the applicable currency of the borrowing."}]}},{"ticker":"ETN","cik":"0001551182","rowId":"","companyName":"Eaton Corp plc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"Further, as of December 31, 2025, all of these long-term debt instruments, except the 0.128 % Euro notes due 2026, the 0.577 % Euro notes due 2030, the 3.601 % Euro notes due 2031, and the 3.802 % Euro notes due 2036 are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes)."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"Further, as of December 31, 2025, all of these long-term debt instruments, except the 0.128 % Euro notes due 2026, the 0.577 % Euro notes due 2030, the 3.601 % Euro notes due 2031, and the 3.802 % Euro notes due 2036 are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes)."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"On May 9, 2025, a subsidiary of Eaton issued Euro denominated notes (2025 Euro Notes) with a face amount of € 500  million ($ 564  million)."}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Foreign Currency Exchange: Because a significant percentage of our product sales is denominated in foreign currencies, primarily the Euro, we face exposure to adverse movements in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Foreign Currency Exchange: Because a significant percentage of our product sales is denominated in foreign currencies, primarily the Euro, we face exposure to adverse movements in foreign currency exchange rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"We generally face exposure to movements in foreign currency exchange rates, primarily in the Euro."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The impact to income from unrealized activity for the year ended December 31, 2025 was primarily driven by unrealized gains from our South Korean won, Japanese yen, Mexican peso-denominated hedges, partially offset by unrealized losses from our euro-denominated hedges."}]}},{"ticker":"GOOGL","cik":"0001652044","rowId":"","companyName":"Alphabet Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"During 2025, we issued $22.5 billion of US dollar-denominated senior unsecured notes and €13.25 billion of euro-denominated senior unsecured notes for general corporate purposes, comprised of the following:"},"evidence":[{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"During 2025, we issued $22.5 billion of US dollar-denominated senior unsecured notes and €13.25 billion of euro-denominated senior unsecured notes for general corporate purposes, comprised of the following:"},{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"We also issued €6.75 billion of euro-denominated fixed-rate senior unsecured notes with a weighted-average coupon rate of 3.31%, and a weighted-average maturity of approximately 14 years."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"}]}},{"ticker":"JNJ","cik":"0000200406","rowId":"","companyName":"JOHNSON & JOHNSON","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company designated its Euro denominated notes with due dates ranging from 2028 to 2055 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company designated its Euro denominated notes with due dates ranging from 2028 to 2055 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LIN","cik":"0001707925","rowId":"","companyName":"LINDE PLC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"For the twelve months ended December 31, 2025, Linde issued €4,000 million Euro-denominated notes and CHF500 million Swiss-franc denominated notes, and redeemed or repaid $1,000 million U.S. dollar-denominated notes and €1,000 million Euro denominated notes (see Note 11)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"For the twelve months ended December 31, 2025, Linde issued €4,000 million Euro-denominated notes and CHF500 million Swiss-franc denominated notes, and redeemed or repaid $1,000 million U.S. dollar-denominated notes and €1,000 million Euro denominated notes (see Note 11)."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"(g) In November 2025, Linde issued three tranches of euro-denominated notes, € 600 million of floating-rate notes due in 2027, at three-month EURIBOR plus a fixed spread and resetting quarterly ( 2.271 % as of December 31, 2025); € 650 million of 3.125 % fixed-rate notes due in 2032, and € 500 million of 3.750 % fixed-rate notes due in 2038."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Currently, we hedge certain anticipated foreign currency cash flows, primarily anticipated revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."}]}},{"ticker":"MA","cik":"0001141391","rowId":"","companyName":"Mastercard Inc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"The objective of these activities is to reduce our exposure to gains and losses resulting from fluctuations of foreign currencies against our functional currencies, principally the U.S. dollar and euro."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"The objective of these activities is to reduce our exposure to gains and losses resulting from fluctuations of foreign currencies against our functional currencies, principally the U.S. dollar and euro."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, the Company had € 1.7 billion and € 1.3 billion euro-denominated debt outstanding designated as hedges of a portion of its net investment in its European operations."}]}},{"ticker":"MDT","cik":"0001613103","rowId":"","companyName":"Medtronic plc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2026, the Company issued two tranches of Euro-denominated Senior Notes with an aggregate principal of €1.5 billion, or $1.7 billion."},"evidence":[{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2026, the Company issued two tranches of Euro-denominated Senior Notes with an aggregate principal of €1.5 billion, or $1.7 billion."},{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2025, the Company issued four tranches of Euro-denominated Senior Notes with an aggregate principal of €3.0 billion, or $3.2 billion, which was partially offset by repayments of commercial paper of $1.1 billion."}]}},{"ticker":"META","cik":"0001326801","rowId":"","companyName":"Meta Platforms, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, the majority of which is in Euro."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, the majority of which is in Euro."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"▪ Debt Repayment - In the second quarter of 2025, we repaid in full at maturity (i) senior unsecured notes in the aggregate principal amount of $750 million and (ii) senior unsecured Euro notes in the aggregate principal amount of €750 million ($857 million)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"▪ Debt Repayment - In the second quarter of 2025, we repaid in full at maturity (i) senior unsecured notes in the aggregate principal amount of $750 million and (ii) senior unsecured Euro notes in the aggregate principal amount of €750 million ($857 million)."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Our investment in ABI, whose functional currency is the Euro, exposes us to foreign currency exchange risk on the carrying value of our investment."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"In 2024, the Company’s $750 million, 2.90% notes and the Company’s €500 million, 0.50% euro-denominated notes matured in accordance with their terms and were repaid."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"In 2024, the Company’s $750 million, 2.90% notes and the Company’s €500 million, 0.50% euro-denominated notes matured in accordance with their terms and were repaid."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, significant amounts of our operating expenses and capital expenditures, and certain assets and liabilities, are incurred in or exposed to other currencies, primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"ended December 31, 2025, the foreign exchange losses were primarily driven by the non-cash loss of $72 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts, coupled with the remeasurement of cash and content liability positions in currencies other than the functional currencies."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"ended December 31, 2025, the foreign exchange losses were primarily driven by the non-cash loss of $72 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts, coupled with the remeasurement of cash and content liability positions in currencies other than the functional currencies."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The foreign exchange losses in the year ended December 31, 2024 were primarily driven by the remeasurement of cash and content liability positions in currencies other than the functional currencies, partially offset by a non-cash gain of $122 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Dollar against the Euro and most other major international currencies, adversely affects our revenue growth by reducing the U.S."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Dollar against the Euro and most other major international currencies, adversely affects our revenue growth by reducing the U.S."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"For example, if an entity reporting in Euros had revenues of 1.0 million Euros from products sold on May 31, 2026 and 2025, our financial statements would reflect reported revenues of $1.16 million in fiscal 2026 (using 1.16 as the applicable average exchange rate for the period) and $1.13 million in fiscal 2025 (using 1.13 as the applicable average exchange rate for the period)."}]}},{"ticker":"PEP","cik":"0000077476","rowId":"","companyName":"PEPSICO INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"Subsequent to December 27, 2025, we designated $4.5 billion of existing euro denominated debt as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"Subsequent to December 27, 2025, we designated $4.5 billion of existing euro denominated debt as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"(b) These notes, issued in euros, were designated as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."}]}},{"ticker":"PG","cik":"0000080424","rowId":"","companyName":"PROCTER & GAMBLE Co","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"The maturity cash outflows of foreign currency debt and derivative instruments could be adversely impacted by significant appreciation of foreign currency exchange rates (particularly the Euro), which could impact our overall cash flows and interest expense."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"The maturity cash outflows of foreign currency debt and derivative instruments could be adversely impacted by significant appreciation of foreign currency exchange rates (particularly the Euro), which could impact our overall cash flows and interest expense."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"• In June 2025, we established an additional commercial paper program, under which we may issue, repay and re-issue short-term unsecured commercial paper notes (“CPNs”) denominated in British pound sterling, euros or U.S. dollars in an aggregate amount of up to €1.0 billion (or its equivalent in other currencies)."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"However, when the U.S. dollar strengthens compared to other currencies (primarily the Euro and GBP), it has had, and could in the future have, an unfavorable impact on our revenues and expenses from certain non-U.S. customers or vendors whose contracts are denominated in currencies other than the U.S. dollar."}]}},{"ticker":"PM","cik":"0001413329","rowId":"","companyName":"Philip Morris International Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Foreign currency denominated debt and the majority of our $50 billion gross notional amount of derivative financial instruments are subject to foreign currency exchange rates fluctuation, primarily between the Euro and U.S."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Foreign currency denominated debt and the majority of our $50 billion gross notional amount of derivative financial instruments are subject to foreign currency exchange rates fluctuation, primarily between the Euro and U.S."}]}},{"ticker":"RTX","cik":"0000101829","rowId":"","companyName":"RTX Corp","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"As of December 31 2024, we had € 320 million of our € 500 million principal value of euro-denominated long-term debt designated as a net investment hedge against our investments in European businesses."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"As of December 31 2024, we had € 320 million of our € 500 million principal value of euro-denominated long-term debt designated as a net investment hedge against our investments in European businesses."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, we held cross currency swaps to hedge a portion of our net investment in one of our European subsidiaries against volatility in the Euro/U.S. dollar exchange rate."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, we held cross currency swaps to hedge a portion of our net investment in one of our European subsidiaries against volatility in the Euro/U.S. dollar exchange rate."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"A portion of the company’s euro-denominated senior notes, certain foreign currency-denominated payables, and its cross-currency interest rate swaps have been designated as, and are effective as, economic hedges of part of the net investment in a foreign operation."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"We transact business globally in multiple currencies and hence have foreign currency risks related to our revenue, costs of revenue and operating expenses denominated in currencies other than the U.S. dollar (primarily the Chinese yuan and euro in relation to our current year operations)."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"We transact business globally in multiple currencies and hence have foreign currency risks related to our revenue, costs of revenue and operating expenses denominated in currencies other than the U.S. dollar (primarily the Chinese yuan and euro in relation to our current year operations)."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"V","cik":"0001403161","rowId":"","companyName":"VISA INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"In May 2025, we issued Euro-denominated fixed-rate senior notes in a public offering in an aggregate principal amount of €3.5 billion ($3.9 billion), with maturities ranging between 3 and 19 years."},"evidence":[{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"In May 2025, we issued Euro-denominated fixed-rate senior notes in a public offering in an aggregate principal amount of €3.5 billion ($3.9 billion), with maturities ranging between 3 and 19 years."},{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"We are further exposed to foreign currency exchange rate risk related to translation as the functional currency of Visa Europe is the Euro."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2024, approximately $30.5 billion, or 20.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."}]}}],"reportDate":"2026-09-08","priorDate":"2026-09-01","title":"Euro FX: total open interest increased","description":"Net positioning increased by 4,888 contracts. Reported longs changed by -1,329 and reported shorts by -6,217 contracts. Net share of total open interest changed by +0.88 percentage points. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Five-Year Revolving Credit Agreement, dated as of March 10, 2011, by and among BlackRock Finance, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, swingline lender, issuing lender and L/C agent, Sumitomo Mitsui Banking Corporation, as Japanese Yen lender, a group of lenders, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, J.P."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company uses and has used cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"The Company has also issued foreign currency denominated long-term debt as partial hedges of its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro, Japanese yen and Swiss franc."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The impact to income from realized activity for the year ended December 31, 2025 was primarily driven by realized gains from our Mexican peso and Japanese yen-denominated hedges, partially offset by realized losses from our South Korean won and Chinese yuan-denominated hedges."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Currently, we hedge certain anticipated foreign currency cash flows, primarily anticipated revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, significant amounts of our operating expenses and capital expenditures, and certain assets and liabilities, are incurred in or exposed to other currencies, primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, we had foreign currency contracts denominated principally in British pound sterling, Canadian dollar, euro and Japanese yen, with an aggregate notional amount of $1.4 billion."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does yen exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"Japanese Yen","reason":"The SEC annual filing contains a business or financial-risk passage mentioning yen. 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The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},"evidence":[{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"The Company’s investments can be negatively affected by changes in liquidity, credit deterioration, financial results, market and economic conditions, political risk, sovereign risk, interest rate fluctuations or other factors."},{"form":"10-K","filed":"2025-10-31","url":"https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm","accession":"0000320193-25-000079","reportDate":"2025-09-27","text":"Macroeconomic conditions, including inflation, interest rates and currency fluctuations, have directly and indirectly impacted, and could in the future materially impact, the Company’s results of operations and financial condition."}]}},{"ticker":"ABBV","cik":"0001551152","rowId":"","companyName":"AbbVie Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. 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The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• instability of global credit and financial markets due to uncertainty and adverse macroeconomic conditions such as inflation, tariffs and trade restrictions, high interest rates, bank failures and slower economic growth or recession that could, among other impacts, affect our ability to timely access external financing sources on acceptable terms or lead to financial difficulties or uncertainty of our customers, suppliers and distributors exposing us to late payments, cancelled orders and inventory challenges;"},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• instability of global credit and financial markets due to uncertainty and adverse macroeconomic conditions such as inflation, tariffs and trade restrictions, high interest rates, bank failures and slower economic growth or recession that could, among other impacts, affect our ability to timely access external financing sources on acceptable terms or lead to financial difficulties or uncertainty of our customers, suppliers and distributors exposing us to late payments, cancelled orders and inventory challenges;"},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"• the effects of adverse economic or geopolitical conditions in the markets in which we sell our products, including inflationary pressures, which has resulted, and may continue to result, in increased interest rates, fuel prices, wages and other costs;"}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our business and the industries in which we operate can be impacted by uncertain or adverse economic and business conditions, including uncertainties and volatility in the financial markets, national debt, fiscal or monetary concerns, inflation and changes in interest rates, bank failures, tariffs and trade policies and economic recession."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our business and the industries in which we operate can be impacted by uncertain or adverse economic and business conditions, including uncertainties and volatility in the financial markets, national debt, fiscal or monetary concerns, inflation and changes in interest rates, bank failures, tariffs and trade policies and economic recession."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Our investment portfolio is subject to general credit, liquidity, market and interest rate risks, which may be exacerbated by rising inflation, rising interest rates, bank failures or economic recession and the value and liquidity of our portfolio and returns on pension assets could be negatively impacted and lead to impairment charges."}]}},{"ticker":"AMD","cik":"0000002488","rowId":"","companyName":"ADVANCED MICRO DEVICES INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"Uncertainty in the economic environment or other unfavorable changes in economic conditions, such as inflation, fluctuating interest rates, recession, slowing growth, increased unemployment, tighter credit markets, changes or uncertainty in fiscal monetary or trade policy, implementation of new or increased tariffs, retaliatory tariffs by other countries or other trade restrictions, or currency fluctuations, may negatively impact consumer confidence and spending causing our customers to stop or postpone purchases."},"evidence":[{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"Uncertainty in the economic environment or other unfavorable changes in economic conditions, such as inflation, fluctuating interest rates, recession, slowing growth, increased unemployment, tighter credit markets, changes or uncertainty in fiscal monetary or trade policy, implementation of new or increased tariffs, retaliatory tariffs by other countries or other trade restrictions, or currency fluctuations, may negatively impact consumer confidence and spending causing our customers to stop or postpone purchases."},{"form":"10-K","filed":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/2488/000000248826000018/amd-20251227.htm","accession":"0000002488-26-000018","reportDate":"2025-12-27","text":"The trading price of our stock may fluctuate widely due to various factors including: actual or anticipated fluctuations in our financial conditions and operating results; failure to meet expectations related to future growth; changes in financial estimates by us or financial estimates and ratings by securities analysts; changes in our capital structure, including issuance of additional debt or equity to the public; competitive landscape; news regarding our products or products of our competitors or other actions taken by competitors; broad market industry and competitor-related fluctuations; and general economic, political and market conditions, including imposition of new or increased tariffs and other trade restrictions, interest rate changes and inflation."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"The value of our investments may also be adversely affected by interest rate fluctuations, inflation, downgrades in credit ratings, illiquidity in the capital markets, geopolitical events and other factors that may result in other-than-temporary declines in the value of our investments."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"The value of our investments may also be adversely affected by interest rate fluctuations, inflation, downgrades in credit ratings, illiquidity in the capital markets, geopolitical events and other factors that may result in other-than-temporary declines in the value of our investments."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"Uncertain macroeconomic conditions, including the risk of inflation, fluctuating interest rates and instability in the financial system, as well as rising healthcare costs, continue to pose challenges to our business."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In addition, economic conditions and actions by policymaking bodies are contributing to changing interest rates and significant capital market volatility, which, along with any increases in our borrowing levels, could increase our future borrowing costs."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"In addition, economic conditions and actions by policymaking bodies are contributing to changing interest rates and significant capital market volatility, which, along with any increases in our borrowing levels, could increase our future borrowing costs."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Macroeconomic factors, including changes in inflation and interest rates, resource and supply volatility, global economic and geopolitical developments, including unpredictable shifts in global tariff and trade policies, and the development and adoption of technologies and services, including artificial intelligence, have direct and indirect impacts on our results of operations that are difficult to predict, isolate, and quantify."}]}},{"ticker":"ANET","cik":"0001596532","rowId":"","companyName":"Arista Networks, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"• disruptions in our business due to general economic and market conditions, such as recessionary risks and a global economic downturn, international trade tensions and tariff policies, higher interest rates, monetary policy shifts, inflationary pressures, supply chain and labor shortages, changes in government administration, and geopolitical pressures;"},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"• disruptions in our business due to general economic and market conditions, such as recessionary risks and a global economic downturn, international trade tensions and tariff policies, higher interest rates, monetary policy shifts, inflationary pressures, supply chain and labor shortages, changes in government administration, and geopolitical pressures;"},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1596532/000159653226000013/anet-20251231.htm","accession":"0001596532-26-000013","reportDate":"2025-12-31","text":"We expect other income (expense), net may fluctuate in the future as a result of changes in interest rates, changes in our cash, cash equivalents and marketable securities balances."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company is subject to interest rate volatility with regard to existing and future issuances of debt."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company is subject to interest rate volatility with regard to existing and future issuances of debt."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"As of December  31, 2025, 3% of the Company’s outstanding borrowings were subject to floating interest rates."}]}},{"ticker":"AVGO","cik":"0001730168","rowId":"","companyName":"Broadcom Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"A general weakening of the economy globally or in a particular region or industry, uncertainty and volatility in financial markets, efforts of governments to stimulate or stabilize the economy or to achieve specific policy objectives such as onshoring of semiconductor manufacturing and other unfavorable changes in economic conditions, such as inflation, higher interest rates, tightening of the credit markets, recession or slowing growth, as well as an increase in trade tensions and related tariffs with U.S. trading partners, could negatively impact our business, financial condition, cash flows and liquidity."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"A general weakening of the economy globally or in a particular region or industry, uncertainty and volatility in financial markets, efforts of governments to stimulate or stabilize the economy or to achieve specific policy objectives such as onshoring of semiconductor manufacturing and other unfavorable changes in economic conditions, such as inflation, higher interest rates, tightening of the credit markets, recession or slowing growth, as well as an increase in trade tensions and related tariffs with U.S. trading partners, could negatively impact our business, financial condition, cash flows and liquidity."},{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/1730168/000173016825000121/avgo-20251102.htm","accession":"0001730168-25-000121","reportDate":"2025-11-02","text":"In addition, the current market volatility may adversely impact our ability to manage our debt, including through borrowing at favorable interest rates or due to reduced cash flows."}]}},{"ticker":"AXP","cik":"0000004962","rowId":"","companyName":"AMERICAN EXPRESS CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"• providing incentives to drive spending on our various card products and increase customer engagement, including our Membership Rewards ® and Amex Offers ™ programs, cash-back reward features, statement credits for purchases with partners, interest rates offered on deposits and participation in loyalty programs sponsored by our cobrand and other partners;"},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"• providing incentives to drive spending on our various card products and increase customer engagement, including our Membership Rewards ® and Amex Offers ™ programs, cash-back reward features, statement credits for purchases with partners, interest rates offered on deposits and participation in loyalty programs sponsored by our cobrand and other partners;"},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm","accession":"0000004962-26-000080","reportDate":"2025-12-31","text":"Factors such as consumer spending and confidence, household income and housing prices, levels of unemployment and underemployment, business investment and inventory levels, bankruptcies, geopolitical instability, public policy decisions and uncertainty, government spending and debt, international trade relationships, tariffs, interest rates, taxes, inflation and deflation (including the effects of related governmental responses), impacts of new technologies, energy costs and availability of capital and credit all affect the economic environment and, ultimately, our profitability."}]}},{"ticker":"BA","cik":"0000012927","rowId":"","companyName":"BOEING CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations."},"evidence":[{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations."},{"form":"10-K","filed":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/12927/000162828026004357/ba-20251231.htm","accession":"0001628280-26-004357","reportDate":"2025-12-31","text":"Therefore, exposure to interest rate risk is not believed to be material for our fixed-rate debt."}]}},{"ticker":"BAC","cik":"0000070858","rowId":"","companyName":"BANK OF AMERICA CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"This can affect interest rates and the value of financial instruments and other assets, such as debt securities, and impact our borrowers and potentially increase delinquency rates and may also raise government debt levels, adversely affect businesses and household incomes, adversely impact the banking sector generally, and increase uncertainty surrounding monetary policy."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"This can affect interest rates and the value of financial instruments and other assets, such as debt securities, and impact our borrowers and potentially increase delinquency rates and may also raise government debt levels, adversely affect businesses and household incomes, adversely impact the banking sector generally, and increase uncertainty surrounding monetary policy."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/70858/000007085826000157/bac-20251231.htm","accession":"0000070858-26-000157","reportDate":"2025-12-31","text":"Any future change in monetary policy by the Federal Reserve, in an effort to stimulate the economy or otherwise, resulting in lower interest rates would typically result in lower revenue through lower net interest income, which could adversely affect our results of operations."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We have exposure to several types of market risk, including changes in interest rates, foreign currency exchange rates, and equity prices."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We have exposure to several types of market risk, including changes in interest rates, foreign currency exchange rates, and equity prices."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We manage our exposure to interest rate risk and foreign currency risk through internally established policies and procedures and, when deemed appropriate, through the use of derivative financial instruments."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"BlackRock employs a conservative investment style for cash and securities lending collateral that emphasizes quality, liquidity, and interest rate risk management."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"BlackRock employs a conservative investment style for cash and securities lending collateral that emphasizes quality, liquidity, and interest rate risk management."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The rules require many market participants, including a large number of BlackRock funds and accounts, to clear Treasury repurchase transactions and potentially certain cash Treasury securities transactions through a clearing agency registered with the SEC, which could increase transaction costs for BlackRock’s clients."}]}},{"ticker":"BMY","cik":"0000014272","rowId":"","companyName":"BRISTOL MYERS SQUIBB CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Our investment portfolio includes marketable debt securities, which are subject to changes in fair value as a result of interest rate fluctuations and other market factors."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Our investment portfolio includes marketable debt securities, which are subject to changes in fair value as a result of interest rate fluctuations and other market factors."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Any credit rating downgrade may affect the interest rate of any debt we may incur, the fair market value of existing debt and our ability to access the capital markets generally."}]}},{"ticker":"BRK-B","cik":"0001067983","rowId":"","companyName":"BERKSHIRE HATHAWAY INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Our significant market risks are primarily associated with equity prices, interest rates, foreign currency exchange rates and commodity prices."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"Our significant market risks are primarily associated with equity prices, interest rates, foreign currency exchange rates and commodity prices."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1067983/000119312526083899/brka-20251231.htm","accession":"0001193125-26-083899","reportDate":"2025-12-31","text":"We also invest in bonds, loans or other interest rate sensitive instruments."}]}},{"ticker":"C","cik":"0000831001","rowId":"","companyName":"CITIGROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"Citigroup’s Asset and Liability Committee (ALCO) establishes Citi’s risk appetite and related limits for interest rate risk in the Banking Book, which are subject to approval by Citigroup’s Board of Directors."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"Citigroup’s Asset and Liability Committee (ALCO) establishes Citi’s risk appetite and related limits for interest rate risk in the Banking Book, which are subject to approval by Citigroup’s Board of Directors."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/831001/000083100126000011/c-20251231.htm","accession":"0000831001-26-000011","reportDate":"2025-12-31","text":"AOCI at risk is managed as part of the Company-wide interest rate risk position."}]}},{"ticker":"CAT","cik":"0000018230","rowId":"","companyName":"CATERPILLAR INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"In addition, many of the manufacturers that compete with Caterpillar also own financial subsidiaries, such as John Deere Capital Corporation, Komatsu Financial L.P., Volvo Financial Services and Kubota Credit Corporation, which utilize many below-market interest rate programs (funded by the manufacturer) to support machine sales."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"In addition, many of the manufacturers that compete with Caterpillar also own financial subsidiaries, such as John Deere Capital Corporation, Komatsu Financial L.P., Volvo Financial Services and Kubota Credit Corporation, which utilize many below-market interest rate programs (funded by the manufacturer) to support machine sales."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"The demand for our products and services tends to be cyclical and can be significantly reduced in periods of economic weakness characterized by lower levels of government and business investment, lower levels of business confidence, lower corporate earnings, high real interest rates, lower credit activity or tighter credit conditions, perceived or actual industry overcapacity, higher unemployment and lower consumer spending."}]}},{"ticker":"CB","cik":"0000896159","rowId":"","companyName":"Chubb Ltd","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Our pricing, establishment of liabilities for life insurance and annuity products, including reinsurance programs, are based upon various assumptions, including equity market changes, interest rates, mortality rates, morbidity rates, and policyholder behavior."},"evidence":[{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Our pricing, establishment of liabilities for life insurance and annuity products, including reinsurance programs, are based upon various assumptions, including equity market changes, interest rates, mortality rates, morbidity rates, and policyholder behavior."},{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Under long-duration targeted improvements (LDTI), the accounting for our FPB reserves is also sensitive to changing interest rate conditions."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"• Fluctuations in interest rates could adversely affect our business, results of operations and financial condition."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"• Fluctuations in interest rates could adversely affect our business, results of operations and financial condition."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"Changes in interest rates could adversely affect the results of our operations and financial condition."}]}},{"ticker":"COP","cik":"0001163165","rowId":"","companyName":"CONOCOPHILLIPS","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We and certain of our subsidiaries hold and issue derivative contracts and financial instruments that expose our cash flows or earnings to changes in commodity prices, foreign currency exchange rates or interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We and certain of our subsidiaries hold and issue derivative contracts and financial instruments that expose our cash flows or earnings to changes in commodity prices, foreign currency exchange rates or interest rates."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1163165/000116316526000009/cop-20251231.htm","accession":"0001163165-26-000009","reportDate":"2025-12-31","text":"We may use financial and commodity-based derivative contracts to manage the risks produced by changes in the prices of natural gas, crude oil and related products; fluctuations in interest rates and foreign currency exchange rates; or to capture market opportunities."}]}},{"ticker":"COST","cik":"0000909832","rowId":"","companyName":"COSTCO WHOLESALE CORP /NEW","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Higher energy and gasoline costs, inflation, levels of unemployment, healthcare costs, consumer debt levels, foreign-currency exchange rates, unsettled financial markets, weaknesses in housing and real estate markets, reduced consumer confidence, changes and uncertainties related to government fiscal, monetary and tax policies including changes in interest rates, tax rates, duties, tariffs, or other restrictions, sovereign debt crises, pandemics and other health crises, and other economic factors could adversely affect demand for our products and services, require a change in product mix, or impact the cost of or ability to purchase inventory."},"evidence":[{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Higher energy and gasoline costs, inflation, levels of unemployment, healthcare costs, consumer debt levels, foreign-currency exchange rates, unsettled financial markets, weaknesses in housing and real estate markets, reduced consumer confidence, changes and uncertainties related to government fiscal, monetary and tax policies including changes in interest rates, tax rates, duties, tariffs, or other restrictions, sovereign debt crises, pandemics and other health crises, and other economic factors could adversely affect demand for our products and services, require a change in product mix, or impact the cost of or ability to purchase inventory."},{"form":"10-K","filed":"2025-10-08","url":"https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm","accession":"0000909832-25-000101","reportDate":"2025-08-31","text":"Our exposure to financial market risk results from fluctuations in interest rates and foreign-currency exchange rates."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Any new or refinanced debt may be subject to substantially higher interest rates, which could adversely affect our financial condition and impact our business."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Any new or refinanced debt may be subject to substantially higher interest rates, which could adversely affect our financial condition and impact our business."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Our quarterly results have fluctuated, and are likely to fluctuate in the future, as a result of a number of known and unknown factors, including: the factors described in this Item 1, Part 1A of this Annual Report; the cyclical nature and seasonality of our sales cycle and our customers’ businesses, especially our Commerce service offering customers; the global economic impact of geopolitical events, including ongoing conflicts and uncertainty about the interest rate environment; the timing of contract execution and term software license sales; the amount and timing of operating costs and capital expenditures related to the operations and expansion of our business; the timing of commission, bonus and other compensation payments to"}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"Any refinancing of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"Any refinancing of our debt could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"We do not have any outstanding derivative financial instruments, off-balance sheet guarantees, interest rate swap transactions, or foreign currency forward contracts."}]}},{"ticker":"CSCO","cik":"0000858877","rowId":"","companyName":"CISCO SYSTEMS, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"Risk Factors,” including the risk factor entitled “We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings.”"},"evidence":[{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"Risk Factors,” including the risk factor entitled “We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings.”"},{"form":"10-K","filed":"2026-09-02","url":"https://www.sec.gov/Archives/edgar/data/858877/000085887726000132/csco-20260725.htm","accession":"0000858877-26-000132","reportDate":"2026-07-25","text":"We are exposed to fluctuations in the market values of our portfolio investments and in interest rates; impairment of our investments could harm our earnings."}]}},{"ticker":"CVS","cik":"0000064803","rowId":"","companyName":"CVS HEALTH Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"The RBC Model Act sets forth the formula for calculating RBC requirements, which are designed to take into account asset risks, insurance risks, interest rate risks and other relevant risks with respect to an individual company’s business."},"evidence":[{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"The RBC Model Act sets forth the formula for calculating RBC requirements, which are designed to take into account asset risks, insurance risks, interest rate risks and other relevant risks with respect to an individual company’s business."},{"form":"10-K","filed":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm","accession":"0000064803-26-000010","reportDate":"2025-12-31","text":"Adverse economic conditions in the U.S. and abroad, including those caused by inflation, high interest rates, declines in consumer confidence, increases in unemployment and supply chain disruptions, all of which we have experienced over the last number of years, can materially and adversely impact our businesses, operating results, cash flows and financial condition, including:"}]}},{"ticker":"CVX","cik":"0000093410","rowId":"","companyName":"CHEVRON CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest Rates The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest Rates The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm","accession":"0000093410-26-000078","reportDate":"2025-12-31","text":"Interest rate swaps related to a portion of the company’s fixed-rate debt, if any, may be accounted for as fair value hedges."}]}},{"ticker":"DE","cik":"0000315189","rowId":"","companyName":"DEERE & CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"The demand for our products and services depends on the fundamentals in the markets in which we operate and can be significantly reduced in an economic environment characterized by high unemployment, high interest rates, cautious consumer spending, inflation, lower corporate earnings, and lower business investment, all of which affect farmers’ income and sentiment."},"evidence":[{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"The demand for our products and services depends on the fundamentals in the markets in which we operate and can be significantly reduced in an economic environment characterized by high unemployment, high interest rates, cautious consumer spending, inflation, lower corporate earnings, and lower business investment, all of which affect farmers’ income and sentiment."},{"form":"10-K","filed":"2025-12-18","url":"https://www.sec.gov/Archives/edgar/data/315189/000110465925122321/de-20251102x10k.htm","accession":"0001104659-25-122321","reportDate":"2025-11-02","text":"Changes in interest rates or market liquidity conditions, as well as changes in government banking, monetary and fiscal policies, could adversely affect our financials and our earnings and/or cash flows."}]}},{"ticker":"DELL","cik":"0001571996","rowId":"","companyName":"Dell Technologies Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The results of these operations are allocated to our segments based on the underlying product or service financed and may be impacted by, among other factors, changes in the interest rate environment and the translation of those changes to pricing."},"evidence":[{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"The results of these operations are allocated to our segments based on the underlying product or service financed and may be impacted by, among other factors, changes in the interest rate environment and the translation of those changes to pricing."},{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"Adverse economic conditions may negatively affect customer demand, and could result in postponed or decreased spending amid customer concerns over elevated inflation and interest rates or slowing demand for our products, reduced asset values, volatile energy costs, the availability and cost of credit, and the stability of financial institutions, financial markets, businesses, local and state governments, and sovereign nations."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Our debt level and related debt service obligations can have negative consequences, including (1) requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes such as acquisitions and other investments; (2) reducing our flexibility in planning for or reacting to changes in our business and market conditions; and (3) exposing us to interest rate risk on any variable rate debt we may issue, particularly in light of increases in interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Our debt level and related debt service obligations can have negative consequences, including (1) requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes such as acquisitions and other investments; (2) reducing our flexibility in planning for or reacting to changes in our business and market conditions; and (3) exposing us to interest rate risk on any variable rate debt we may issue, particularly in light of increases in interest rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"If our credit ratings are downgraded or put on watch for a potential downgrade, we may not be able to sell additional debt securities or borrow money in the amounts, at the times or interest rates or upon the more favorable terms and conditions that might be available if our current credit ratings were maintained."}]}},{"ticker":"DIS","cik":"0001744489","rowId":"","companyName":"Walt Disney Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"While a number of different factors affect the demand for our products and services, actual or perceived declines in economic conditions typically have impacts across our businesses, including, among others, lower attendance and spending at our parks and experiences businesses, fees received for our cable programming and DTC services, including as a result of declines in subscription levels, purchases of and prices for advertising on our DTC services and linear networks or licensing fees, while in the case of inflationary conditions, also increasing the prices we pay for goods, services and labor, as well as typically our borrowing costs due to elevated interest rates, making it more difficult to obtain financing for our operations and investments on favorable terms."},"evidence":[{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"While a number of different factors affect the demand for our products and services, actual or perceived declines in economic conditions typically have impacts across our businesses, including, among others, lower attendance and spending at our parks and experiences businesses, fees received for our cable programming and DTC services, including as a result of declines in subscription levels, purchases of and prices for advertising on our DTC services and linear networks or licensing fees, while in the case of inflationary conditions, also increasing the prices we pay for goods, services and labor, as well as typically our borrowing costs due to elevated interest rates, making it more difficult to obtain financing for our operations and investments on favorable terms."},{"form":"10-K","filed":"2025-11-13","url":"https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm","accession":"0001744489-25-000155","reportDate":"2025-09-27","text":"Potential credit ratings actions, increases in interest rates, volatility in the U.S. and global financial markets or periods of elevated indebtedness could impede access to, or increase the cost of, financing our operations and investments and have the effect of decreasing of business flexibility."}]}},{"ticker":"ETN","cik":"0001551182","rowId":"","companyName":"Eaton Corp plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"As most leases do not provide an implicit interest rate, Eaton typically uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"As most leases do not provide an implicit interest rate, Eaton typically uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"In the normal course of business, Eaton is exposed to certain risks related to fluctuations in interest rates, currency exchange rates and commodity prices."}]}},{"ticker":"GE","cik":"0000040545","rowId":"","companyName":"GENERAL ELECTRIC CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"• changes in macroeconomic and market conditions and market volatility (including risks related to recession, inflation, supply chain constraints or disruptions, interest rates, values of financial assets, oil, jet fuel and other commodity prices and exchange rates), and the impact of such changes and volatility on our business operations and financial results;"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"• changes in macroeconomic and market conditions and market volatility (including risks related to recession, inflation, supply chain constraints or disruptions, interest rates, values of financial assets, oil, jet fuel and other commodity prices and exchange rates), and the impact of such changes and volatility on our business operations and financial results;"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/40545/000004054526000008/ge-20251231.htm","accession":"0000040545-26-000008","reportDate":"2025-12-31","text":"To assess exposure to interest rate risk, we apply a +/- 100 basis points change in interest rates and keep that in place for the next 12 months."}]}},{"ticker":"GEV","cik":"0001996810","rowId":"","companyName":"GE Vernova Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"Our ability to maintain our investment grade credit ratings could affect our ability to access capital, increase our interest rates,"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"Our ability to maintain our investment grade credit ratings could affect our ability to access capital, increase our interest rates,"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1996810/000199681026000015/gev-20251231.htm","accession":"0001996810-26-000015","reportDate":"2025-12-31","text":"The level of our interest rate risk is"}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Interest Rates and Inflation: We have interest-generating assets and interest-bearing liabilities, including our senior unsecured notes and credit facilities."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Interest Rates and Inflation: We have interest-generating assets and interest-bearing liabilities, including our senior unsecured notes and credit facilities."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"Fluctuations in interest rates could expose us to increased financial risk."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The funded status of our pension plans is dependent upon multiple factors including actuarial assumptions, interest rates at year-end, prior investment returns and contributions made to the plans."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The funded status of our pension plans is dependent upon multiple factors including actuarial assumptions, interest rates at year-end, prior investment returns and contributions made to the plans."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The costs and obligations related to these benefits reflect our assumptions related to general economic conditions (particularly interest rates), expected return on plan assets, rate of compensation increase for employees and health care trend rates."}]}},{"ticker":"GOOGL","cik":"0001652044","rowId":"","companyName":"Alphabet Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"The fair value of our debt and equity investments may in the future be, and certain investments have been in the past, negatively affected by liquidity, credit deterioration or losses, performance and financial results of the underlying entities, foreign exchange rates, changes in interest rates, the effect of new or changing regulations, the stock market in general, or other factors."},"evidence":[{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"The fair value of our debt and equity investments may in the future be, and certain investments have been in the past, negatively affected by liquidity, credit deterioration or losses, performance and financial results of the underlying entities, foreign exchange rates, changes in interest rates, the effect of new or changing regulations, the stock market in general, or other factors."},{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"We are exposed to financial market risks, including changes in foreign currency exchange rates, interest rates, and equity investment risks."}]}},{"ticker":"GS","cik":"0000886982","rowId":"","companyName":"GOLDMAN SACHS GROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"We conduct a number of our activities partially or entirely through GS Bank USA and its subsidiaries, including: corporate loans (including leveraged lending); securities-based and collateralized loans; credit card loans; residential mortgages; transaction banking; deposit-taking; interest rate, credit, currency and other derivatives; and agency lending."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"We conduct a number of our activities partially or entirely through GS Bank USA and its subsidiaries, including: corporate loans (including leveraged lending); securities-based and collateralized loans; credit card loans; residential mortgages; transaction banking; deposit-taking; interest rate, credit, currency and other derivatives; and agency lending."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/gs-20251231.htm","accession":"0000886982-26-000091","reportDate":"2025-12-31","text":"Statements about the projected growth of our deposits and other funding are subject to the risk that actual growth, savings and profitability may differ, possibly materially, from that currently anticipated due to, among other things, changes in interest rates and competition from other similar products."}]}},{"ticker":"HD","cik":"0000354950","rowId":"","companyName":"HOME DEPOT, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"Our comparable sales results reflect customer engagement with smaller home improvement projects, which was offset by the impact of continued macroeconomic uncertainties and other macroeconomic factors, including a persisting high interest rate environment, that continue to pressure broader home improvement demand."},"evidence":[{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"Our comparable sales results reflect customer engagement with smaller home improvement projects, which was offset by the impact of continued macroeconomic uncertainties and other macroeconomic factors, including a persisting high interest rate environment, that continue to pressure broader home improvement demand."},{"form":"10-K","filed":"2026-03-18","url":"https://www.sec.gov/Archives/edgar/data/354950/000162828026019436/hd-20260201.htm","accession":"0001628280-26-019436","reportDate":"2026-02-01","text":"At February 1, 2026, we had outstanding borrowings under our commercial paper program of $4.5 billion with a weighted average interest rate of 3.7%."}]}},{"ticker":"IBM","cik":"0000051143","rowId":"","companyName":"INTERNATIONAL BUSINESS MACHINES CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"Further, inherent in the company’s financing business are risks related to the concentration of credit, client creditworthiness, interest rate and currency fluctuations on the associated debt and liabilities and the determination of residual values."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"Further, inherent in the company’s financing business are risks related to the concentration of credit, client creditworthiness, interest rate and currency fluctuations on the associated debt and liabilities and the determination of residual values."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm","accession":"0000051143-26-000010","reportDate":"2025-12-31","text":"The value of the company’s debt securities fluctuates based on many factors, including the methods employed for calculating principal and interest, the maturity of the securities, the aggregate principal amount of securities outstanding, the redemption features for the securities, the level, direction and volatility of interest rates, changes in exchange rates, exchange controls, governmental and stock exchange regulations and other factors over which the company has little or no control."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are affected by changes in currency exchange and interest rates, as well as equity and commodity prices."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are affected by changes in currency exchange and interest rates, as well as equity and commodity prices."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"We are exposed to currency exchange risks of non-U.S.-dollar-denominated investments in debt and equity instruments, and may economically hedge these risks with foreign currency contracts, such as currency forward contracts, currency swaps or interest rate swaps."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: the overall macroeconomic environment, which may impact customer spending and our costs, including tariffs, the levels of inflation, and interest rates; the conflict between Ukraine and Russia; conflicts in the Middle East; disruption to our supply chain, including difficulties in obtaining a sufficient supply of materials; curtailed or delayed capital spending by hospitals; the impact of global and regional economic and credit market conditions on healthcare spending; delays in obtaining new product approvals, clearances, or certifications from the U.S."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: the overall macroeconomic environment, which may impact customer spending and our costs, including tariffs, the levels of inflation, and interest rates; the conflict between Ukraine and Russia; conflicts in the Middle East; disruption to our supply chain, including difficulties in obtaining a sufficient supply of materials; curtailed or delayed capital spending by hospitals; the impact of global and regional economic and credit market conditions on healthcare spending; delays in obtaining new product approvals, clearances, or certifications from the U.S."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"Macroeconomic conditions, such as inflationary pressure, changes to monetary policy, elevated interest rates, volatile currency exchange rates, credit and sovereign debt concerns, concerns about slowed growth in China and other OUS markets, decreasing consumer confidence and spending, including capital spending, the introduction of or changes in tariffs or trade barriers, and global or local recessions can adversely impact demand for our products, which could negatively impact our business, financial condition, or results of operations."}]}},{"ticker":"JNJ","cik":"0000200406","rowId":"","companyName":"JOHNSON & JOHNSON","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"• local and regional economic environments and policies in the markets that we serve, including interest rates, monetary policy, inflation, economic growth, recession, commodity prices, and currency controls or other limitations on the ability to expatriate cash;"},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"• local and regional economic environments and policies in the markets that we serve, including interest rates, monetary policy, inflation, economic growth, recession, commodity prices, and currency controls or other limitations on the ability to expatriate cash;"},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company invests in both fixed rate and floating rate interest earning securities which carry a degree of interest rate risk."}]}},{"ticker":"JPM","cik":"0000019617","rowId":"","companyName":"JPMORGAN CHASE & CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"• Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase’s businesses, investments and market-making positions, as well as on its earnings and liquidity and capital levels."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"• Market risks, including the effects that unfavorable economic and market events and conditions, political developments, changes in interest rates and credit spreads, and market fluctuations could have on JPMorganChase’s businesses, investments and market-making positions, as well as on its earnings and liquidity and capital levels."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm","accession":"0001628280-26-008131","reportDate":"2025-12-31","text":"In addition, JPMorganChase’s earnings from its consumer businesses could be adversely affected if customer demand for the products and services offered by its consumer businesses is diminished by sustained low growth, low or negative interest rates, inflationary pressures, or recessionary conditions."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks related to fluctuations in interest rates and the market values of our portfolio investments;"},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks related to fluctuations in interest rates and the market values of our portfolio investments;"},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"• Risks associated with our interest rate hedging activities;"}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including global inflationary pressures, prevailing interest rates, credit market conditions, increased unemployment, levels of consumer and business confidence, bank failures, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, governmental rules and approaches to taxation, levels of government spending and deficits, and actual or anticipated default on sovereign debt."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including global inflationary pressures, prevailing interest rates, credit market conditions, increased unemployment, levels of consumer and business confidence, bank failures, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, governmental rules and approaches to taxation, levels of government spending and deficits, and actual or anticipated default on sovereign debt."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"If interest rates increase, our net income could be negatively affected."}]}},{"ticker":"LIN","cik":"0001707925","rowId":"","companyName":"LINDE PLC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"As deemed necessary, Linde manages its exposure to interest-rate changes through the use of financial derivatives (see Note 12 to the consolidated financial statements and Item 7A."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"As deemed necessary, Linde manages its exposure to interest-rate changes through the use of financial derivatives (see Note 12 to the consolidated financial statements and Item 7A."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"Under the European debt issuance program, Linde plc may issue unsecured notes with such terms, including currency, interest rate and maturity, as agreed by Linde plc and the purchasers of such notes at the time of sale and as set out in the final terms for the relevant issue of notes."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, and inflation or deflation affect our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Changes in foreign currency rates, interest rate risks, and inflation or deflation affect our results of operations."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, interest rate risk from our exposure to floating and variable interest rates, and existing and expected rates of inflation or deflation in the U.S. and other jurisdictions, each of which impacts our results of operations."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"In addition, we have entered, and in the future may enter, into derivative instrument arrangements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"In addition, we have entered, and in the future may enter, into derivative instrument arrangements to hedge against the variability of cash flows due to changes in the benchmark interest rate of fixed rate debt."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"The fair value of our Senior Notes is subject to interest rate risk and market risk."}]}},{"ticker":"MA","cik":"0001141391","rowId":"","companyName":"Mastercard Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"We do not issue cards, extend credit, determine or receive revenue from interest rates or other fees charged to account holders by issuers, nor do we establish the rates charged by acquirers in connection with merchants’ acceptance of our products."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"We do not issue cards, extend credit, determine or receive revenue from interest rates or other fees charged to account holders by issuers, nor do we establish the rates charged by acquirers in connection with merchants’ acceptance of our products."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"If interchange rates are too low, issuers may stop promoting our products and services, eliminate or reduce loyalty rewards programs or other account holder benefits (e.g., free checking or low interest rates on balances), or charge fees to account holders (e.g., annual fees or late payment fees)."}]}},{"ticker":"MCD","cik":"0000063908","rowId":"","companyName":"MCDONALDS CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company generally borrows on a long-term basis and is exposed to the impact of interest rate changes and foreign currency fluctuations."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company generally borrows on a long-term basis and is exposed to the impact of interest rate changes and foreign currency fluctuations."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/63908/000006390826000035/mcd-20251231.htm","accession":"0000063908-26-000035","reportDate":"2025-12-31","text":"The Company manages its debt portfolio in response to changes in interest rates and foreign currency rates by periodically retiring, redeeming and repurchasing debt, terminating swaps and using derivatives."}]}},{"ticker":"MDT","cik":"0001613103","rowId":"","companyName":"Medtronic plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At the time we may incur such additional indebtedness, or refinance or restructure existing indebtedness, we may be unable to obtain capital market financing with similar terms, interest rates, or currency denomination to our existing indebtedness, or at all, which could have a material adverse effect on our business and results of operations."},"evidence":[{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At the time we may incur such additional indebtedness, or refinance or restructure existing indebtedness, we may be unable to obtain capital market financing with similar terms, interest rates, or currency denomination to our existing indebtedness, or at all, which could have a material adverse effect on our business and results of operations."},{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"At any time, the fair value of our debt outstanding will fluctuate based on several factors including foreign currency exchange rate and interest rate movements, credit conditions and our credit rating."}]}},{"ticker":"META","cik":"0001326801","rowId":"","companyName":"Meta Platforms, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"• fluctuations in the market values of our investments in marketable securities, in the valuation of our non-marketable equity investments, and in interest rates;"},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"• fluctuations in the market values of our investments in marketable securities, in the valuation of our non-marketable equity investments, and in interest rates;"},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We are exposed to market risks, including changes to foreign currency exchange rates, interest rates, and equity price risk."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Disruption and uncertainty in the credit or capital markets or high interest rates could negatively impact the availability or cost of capital and adversely affect our liquidity, cash flow, earnings and dividend rate."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Disruption and uncertainty in the credit or capital markets or high interest rates could negatively impact the availability or cost of capital and adversely affect our liquidity, cash flow, earnings and dividend rate."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Current geopolitical and macroeconomic conditions (including tariffs, inflation, high interest rates, labor shortages, supply and demand imbalances and international armed conflict) and adverse weather events have caused and continue to cause worldwide disruptions and delays to supply chains and commercial markets, and have limited access to, and increased the cost of, raw materials, ingredients and component parts (for example, wood tips used in our cigar products and aluminum used in our packaging)."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Inflation may also result in higher interest rates, which in turn would result in higher interest expense related to our variable rate indebtedness and any borrowings we undertake to refinance existing fixed rate indebtedness."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Inflation may also result in higher interest rates, which in turn would result in higher interest expense related to our variable rate indebtedness and any borrowings we undertake to refinance existing fixed rate indebtedness."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Increases in interest rates could adversely impact our ability to issue equity, refinance existing debt or incur additional debt for acquisitions or other purposes and our ability to pay dividends at our intended levels."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"• The Company is exposed to market risk from fluctuations in currency exchange rates and interest rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"• The Company is exposed to market risk from fluctuations in currency exchange rates and interest rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"The Company’s business may be adversely affected by local and global economic conditions, including with respect to inflation, interest rates, and costs of raw materials and packaging."}]}},{"ticker":"MRVL","cik":"0001835632","rowId":"","companyName":"Marvell Technology, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"Our margin could also be impacted, for example, by the following factors: increased costs (including increased costs caused by tariffs, inflation, higher interest rates, or supply chain constraints); loss of cost savings if parts ordering does not correctly anticipate product demand or if the financial health of either our manufacturers partners or our suppliers deteriorates; excess inventory, or inventory holding and obsolescence charges."},"evidence":[{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"Our margin could also be impacted, for example, by the following factors: increased costs (including increased costs caused by tariffs, inflation, higher interest rates, or supply chain constraints); loss of cost savings if parts ordering does not correctly anticipate product demand or if the financial health of either our manufacturers partners or our suppliers deteriorates; excess inventory, or inventory holding and obsolescence charges."},{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"In addition, while the Russian invasion of Ukraine has not had a direct material impact on us due to our limited sales to Russia and Ukraine, we are unable to predict the indirect impact this conflict will have on us due to impacts on the supply chain, global and domestic economies, interest rates and stock markets."}]}},{"ticker":"MS","cik":"0000895421","rowId":"","companyName":"MORGAN STANLEY","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Significant changes to interest rates could adversely affect our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Significant changes to interest rates could adversely affect our results of operations."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/895421/000089542126000086/ms-20251231.htm","accession":"0000895421-26-000086","reportDate":"2025-12-31","text":"Our net interest income is sensitive to changes in interest rates, generally resulting in higher net interest income in higher interest rate scenarios and lower net interest income in lower interest rate scenarios."}]}},{"ticker":"MSFT","cik":"0000789019","rowId":"","companyName":"MICROSOFT CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Adverse changes in interest rates, credit markets, investor sentiment, our credit ratings, or other factors affecting capital availability could increase our cost of capital or limit our ability to execute our infrastructure strategy."},"evidence":[{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Adverse changes in interest rates, credit markets, investor sentiment, our credit ratings, or other factors affecting capital availability could increase our cost of capital or limit our ability to execute our infrastructure strategy."},{"form":"10-K","filed":"2026-07-29","url":"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm","accession":"0001193125-26-323660","reportDate":"2026-06-30","text":"Worsening economic conditions, including inflation, recession, pandemic, or other changes in economic conditions, periods of economic uncertainty, evolution of customer demand, technology investment cycles, interest rates, foreign exchange rates, or the timing and mix of customer spending, may cause lower or delayed IT spending and adversely affect our results of operations."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Downturns or ongoing adverse conditions in regional or worldwide economies, due to inflation, geopolitics, changes in government borrowing or spending, trade disputes, war, major central bank policy actions including interest rate increases, public health crises, or other factors, have harmed our business in the past and current and future downturns could also adversely affect our business."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"Downturns or ongoing adverse conditions in regional or worldwide economies, due to inflation, geopolitics, changes in government borrowing or spending, trade disputes, war, major central bank policy actions including interest rate increases, public health crises, or other factors, have harmed our business in the past and current and future downturns could also adversely affect our business."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"As a result of our debt levels, expected debt amortization, prevailing interest rates, general capital market, changes in government borrowing or spending, and other economic conditions, it may be difficult for us to obtain financing on terms acceptable to us or at all."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"We are subject to interest rate risk related to the fair value of our senior notes which is wholly comprised of fixed rates at December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"We are subject to interest rate risk related to the fair value of our senior notes which is wholly comprised of fixed rates at December 31, 2025."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"For fixed rate debt, changes in interest rates generally affect the fair value of the debt instrument, but not our earnings or cash flows."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"If the financial markets become difficult or costly to access, including due to rising interest rates, fluctuations in foreign currency exchange rates or other changes in economic conditions, our ability to raise additional capital may be negatively impacted, and any refinancing or restructuring could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"If the financial markets become difficult or costly to access, including due to rising interest rates, fluctuations in foreign currency exchange rates or other changes in economic conditions, our ability to raise additional capital may be negatively impacted, and any refinancing or restructuring could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We are exposed to market risks related to interest rate changes, which affect the market values of our investments and debt, as well as foreign currency fluctuations."}]}},{"ticker":"NOW","cik":"0001373715","rowId":"","companyName":"ServiceNow, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"The success of our activities is affected by general economic and market conditions, including, among others, inflation, interest rates, tax rates, foreign exchange rates, economic downturns, recession, economic uncertainty, political instability, warfare, changes in laws, trade barriers, supply chain disruptions and economic and trade sanctions."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"The success of our activities is affected by general economic and market conditions, including, among others, inflation, interest rates, tax rates, foreign exchange rates, economic downturns, recession, economic uncertainty, political instability, warfare, changes in laws, trade barriers, supply chain disruptions and economic and trade sanctions."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1373715/000137371526000007/now-20251231.htm","accession":"0001373715-26-000007","reportDate":"2025-12-31","text":"Our marketable securities and long-term marketable securities are exposed to market risk due to fluctuations in interest rates, which may affect our interest income and the fair market value of our investments."}]}},{"ticker":"NVDA","cik":"0001045810","rowId":"","companyName":"NVIDIA CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Economic and industry uncertainty or changes, including recession or slowing growth, inflation, changes or uncertainty in fiscal, monetary, or trade policy, disruptions to capital markets and the banking system, currency fluctuations, higher interest rates, tighter credit, lower capital expenditures by businesses, including on IT infrastructure, increases in unemployment, labor shortages, and lower consumer confidence and spending, global supply chain constraints, and global economic and geopolitical developments, including the implementation of tariffs by the USG or other governments, have in the past and/or could in the future have adverse, wide-ranging effects on our business and financial results, including:"},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Economic and industry uncertainty or changes, including recession or slowing growth, inflation, changes or uncertainty in fiscal, monetary, or trade policy, disruptions to capital markets and the banking system, currency fluctuations, higher interest rates, tighter credit, lower capital expenditures by businesses, including on IT infrastructure, increases in unemployment, labor shortages, and lower consumer confidence and spending, global supply chain constraints, and global economic and geopolitical developments, including the implementation of tariffs by the USG or other governments, have in the past and/or could in the future have adverse, wide-ranging effects on our business and financial results, including:"},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm","accession":"0001045810-26-000021","reportDate":"2026-01-25","text":"Macroeconomic factors, including tariffs, inflation, interest rate changes, capital market volatility, global supply chain constraints, and global economic and geopolitical developments, have direct and indirect impacts on our results of operations, particularly demand for our products."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Some of our indebtedness may bear interest at variable rates, and increases in interest rates could increase our debt service obligations."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Some of our indebtedness may bear interest at variable rates, and increases in interest rates could increase our debt service obligations."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Macroeconomic developments such as the global or regional economic effects resulting from elevated inflation and interest rates, limited liquidity, adverse developments affecting financial institutions, the current wars and conflicts, evolving trade policies between the U.S. and international trade partners, including the imposition of tariffs and other trade measures or restrictions, or the occurrence of similar events in other countries that lead to uncertainty or instability in economic, political or market conditions could negatively affect our business, operating results, financial condition and outlook, which, in turn, could adversely affect our stock price."}]}},{"ticker":"PANW","cik":"0001327567","rowId":"","companyName":"Palo Alto Networks Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Further, economic conditions, including inflation, high interest rates, slow growth, fluctuations in foreign exchange rates, supply chain disruptions, including increased memory, storage, or other component shortages and costs, impacts of trade regulations or international trade disputes, and other conditions, may materially and adversely affect our financial condition and operating results."},"evidence":[{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Further, economic conditions, including inflation, high interest rates, slow growth, fluctuations in foreign exchange rates, supply chain disruptions, including increased memory, storage, or other component shortages and costs, impacts of trade regulations or international trade disputes, and other conditions, may materially and adversely affect our financial condition and operating results."},{"form":"10-K","filed":"2026-09-10","url":"https://www.sec.gov/Archives/edgar/data/1327567/000132756726000023/panw-20260731.htm","accession":"0001327567-26-000023","reportDate":"2026-07-31","text":"Most of the securities we invest in are subject to interest rate risk."}]}},{"ticker":"PEP","cik":"0000077476","rowId":"","companyName":"PEPSICO INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"A deterioration in our underlying assumptions, or those of our equity method investees, regarding the impact of competitive operating conditions, geopolitical conditions, macroeconomic conditions, including the interest rate environment, or other factors used to estimate the future performance of any of our reporting units or assets, including any deterioration in the weighted-average cost of capital based on market data available at the time, as well as our ability to hold the investment until recovery of fair value to amortized cost for available-for-sale debt securities, have resulted and could in the future result in an impairment charge, thereby adversely affecting our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"A deterioration in our underlying assumptions, or those of our equity method investees, regarding the impact of competitive operating conditions, geopolitical conditions, macroeconomic conditions, including the interest rate environment, or other factors used to estimate the future performance of any of our reporting units or assets, including any deterioration in the weighted-average cost of capital based on market data available at the time, as well as our ability to hold the investment until recovery of fair value to amortized cost for available-for-sale debt securities, have resulted and could in the future result in an impairment charge, thereby adversely affecting our results of operations."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"In the normal course of business, we manage commodity price, foreign exchange and interest rate risks through a variety of strategies, including productivity initiatives, global purchasing programs and hedging."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"Market Risk ––We are subject to foreign exchange risk, interest rate risk, and equity price risk."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"Market Risk ––We are subject to foreign exchange risk, interest rate risk, and equity price risk."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The objective of our financial risk management program is to minimize the impact of foreign exchange rate and interest rate movements on our earnings."}]}},{"ticker":"PG","cik":"0000080424","rowId":"","companyName":"PROCTER & GAMBLE Co","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"As we refinance debt or renew derivatives, we are exposed to movement in global interest rates and rate differentials."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"As we refinance debt or renew derivatives, we are exposed to movement in global interest rates and rate differentials."},{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"We are exposed to various risks due to economic, political and social instabilities, market volatility, natural disasters, debt and credit issues, currency controls, new or increased tariffs, foreign exchange, the availability and cost of materials and interest rate changes."}]}},{"ticker":"PGR","cik":"0000080661","rowId":"","companyName":"PROGRESSIVE CORP/OH/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"• Prepayment or extension risk - applicable to certain securities in the portfolio, such as asset-backed securities and other bonds with call provisions, prepayment risk is the risk that, as interest rates change, the principal of such securities may be repaid earlier than anticipated, requiring that we reinvest the proceeds at less attractive rates."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"• Prepayment or extension risk - applicable to certain securities in the portfolio, such as asset-backed securities and other bonds with call provisions, prepayment risk is the risk that, as interest rates change, the principal of such securities may be repaid earlier than anticipated, requiring that we reinvest the proceeds at less attractive rates."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/80661/000008066126000086/pgr-20251231.htm","accession":"0000080661-26-000086","reportDate":"2025-12-31","text":"Downgrades in our credit ratings could adversely affect our ability to access the capital markets and/or lead to increased borrowing costs in the future (although the interest rates we pay on our current indebtedness would not be affected), as would adverse recommendations by equity analysts at the various brokerage houses and investment firms."}]}},{"ticker":"PH","cik":"0000076334","rowId":"","companyName":"Parker-Hannifin Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"The funding requirements and the amount of expenses recorded for our defined benefit pension plans are dependent on changes in market interest rates and the value of plan assets, which are dependent on actual plan asset returns."},"evidence":[{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"The funding requirements and the amount of expenses recorded for our defined benefit pension plans are dependent on changes in market interest rates and the value of plan assets, which are dependent on actual plan asset returns."},{"form":"10-K","filed":"2026-08-21","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","accession":"0000076334-26-000105","reportDate":"2026-06-30","text":"Significant changes in market interest rates and decreases in the fair value of plan assets and investment losses on plan assets would increase funding requirements and expenses and may adversely impact our results of operations."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, the weighted average remaining term of our consolidated debt was 9 years and the weighted average interest rate was 3.2%."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, the weighted average remaining term of our consolidated debt was 9 years and the weighted average interest rate was 3.2%."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"Our hedging of foreign currency and interest rate risk may not effectively limit our exposure to these risks."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"If software for the challenges that we address does not achieve widespread adoption, or there is a reduction in demand caused by a lack of customer acceptance, technological challenges, weakening economic conditions (including due to ongoing global conflicts and related economic sanctions, fluctuating interest rates, monetary policy changes, or the potential or actual imposition of tariffs or other impacts on trade relations), security or privacy concerns, competing technologies and products, decreases in corporate spending, or otherwise, or, alternatively, if the market develops but we are unable to continue to penetrate it due to the cost, performance, and perceived value associated with our platforms, or other factors, it could result in decreased revenue and our business, financial condition, and results of operations could be adversely affected."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"If software for the challenges that we address does not achieve widespread adoption, or there is a reduction in demand caused by a lack of customer acceptance, technological challenges, weakening economic conditions (including due to ongoing global conflicts and related economic sanctions, fluctuating interest rates, monetary policy changes, or the potential or actual imposition of tariffs or other impacts on trade relations), security or privacy concerns, competing technologies and products, decreases in corporate spending, or otherwise, or, alternatively, if the market develops but we are unable to continue to penetrate it due to the cost, performance, and perceived value associated with our platforms, or other factors, it could result in decreased revenue and our business, financial condition, and results of operations could be adversely affected."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Variable rate indebtedness that we may incur under our credit facility will subject us to interest rate risk, which could cause our debt service obligations to increase significantly."}]}},{"ticker":"PM","cik":"0001413329","rowId":"","companyName":"Philip Morris International Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Our financial performance, our credit ratings, interest rates, the stability of financial institutions with which we partner, geopolitical or national developments, the stability and liquidity of the credit markets and the state of the global economy could affect the availability and cost of financing."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Our financial performance, our credit ratings, interest rates, the stability of financial institutions with which we partner, geopolitical or national developments, the stability and liquidity of the credit markets and the state of the global economy could affect the availability and cost of financing."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Interest – The favorable impact of $0.09 per share from interest in the table above was primarily due to the impact of lower market interest rates on our variable-rate debt, as well as the favorable impact of derivative financial instruments."}]}},{"ticker":"QCOM","cik":"0000804328","rowId":"","companyName":"QUALCOMM INC/DE","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"In addition, any such refinancing, restructuring or sale of assets might not be available on economically favorable terms or at all, and if prevailing interest rates at the time of any such refinancing or restructuring are higher than our current rates, interest expense related to such refinancing or restructuring would increase."},"evidence":[{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"In addition, any such refinancing, restructuring or sale of assets might not be available on economically favorable terms or at all, and if prevailing interest rates at the time of any such refinancing or restructuring are higher than our current rates, interest expense related to such refinancing or restructuring would increase."},{"form":"10-K","filed":"2025-11-05","url":"https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/qcom-20250928.htm","accession":"0000804328-25-000085","reportDate":"2025-09-28","text":"We also entered into interest rate swaps which are designated as fair value hedges and allow us to effectively convert all of our fixed-rate payments due under the May 2025 Notes into floating-rate payments."}]}},{"ticker":"RTX","cik":"0000101829","rowId":"","companyName":"RTX Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"Our international sales and operations are sensitive to changes in foreign national priorities, foreign government budgets, and regional and local political and economic factors, including wars and armed conflicts, political or civil unrest, volatility in energy prices or supply, inflation, interest rates, changes in threat environments and political relations, and geopolitical uncertainties."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"Our international sales and operations are sensitive to changes in foreign national priorities, foreign government budgets, and regional and local political and economic factors, including wars and armed conflicts, political or civil unrest, volatility in energy prices or supply, inflation, interest rates, changes in threat environments and political relations, and geopolitical uncertainties."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"It exposes us to interest rate and credit market risk at the time of refinancing outstanding debt, as well as these same risks on our commercial paper obligations, which are issued at variable rates."}]}},{"ticker":"SCHW","cik":"0000316709","rowId":"","companyName":"SCHWAB CHARLES CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"Our business can be adversely affected by the general environment – economic, corporate, securities market, regulatory, and geopolitical developments all play a role in client asset valuations, trading activity, interest rates, and overall investor engagement, and are outside of our control."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"Our business can be adversely affected by the general environment – economic, corporate, securities market, regulatory, and geopolitical developments all play a role in client asset valuations, trading activity, interest rates, and overall investor engagement, and are outside of our control."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/316709/000031670926000009/schw-20251231.htm","accession":"0000316709-26-000009","reportDate":"2025-12-31","text":"For example, as a result of rapid increases in short-term interest rates in 2022 and 2023, the Company saw a significant decrease in clients’ asset allocation to sweep cash and greater client investment in higher-yielding alternatives at Schwab such as fixed income investments and proprietary purchased money market funds."}]}},{"ticker":"SNDK","cik":"0002023554","rowId":"","companyName":"Sandisk Corp","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic conditions, including, but not limited to, volatility in the financial markets, tighter credit, recession, inflation, rising interest rates, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, trade war, other macroeconomic factors, or changes to social conditions and regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},"evidence":[{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic conditions, including, but not limited to, volatility in the financial markets, tighter credit, recession, inflation, rising interest rates, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, trade war, other macroeconomic factors, or changes to social conditions and regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},{"form":"10-K","filed":"2026-08-17","url":"https://www.sec.gov/Archives/edgar/data/2023554/000162828026057406/sndk-20260703.htm","accession":"0001628280-26-057406","reportDate":"2026-07-03","text":"Additi onal information regarding our indebtedness, including information about availability under our revolving credit facility and the principal repayment terms, interest rates, covenants, collateral and other key terms of our outstanding indebtedness, is included in Part II, Item 8., Note 8, Debt of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• Changes in the volume of securities issued and traded in domestic and/or global capital markets, asset levels and flows into investment products, high interest rates, changes in interest rates and volatility in the financial markets, and volatility in the energy and commodity markets impact our business, financial condition or results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• Changes in the volume of securities issued and traded in domestic and/or global capital markets, asset levels and flows into investment products, high interest rates, changes in interest rates and volatility in the financial markets, and volatility in the energy and commodity markets impact our business, financial condition or results of operations."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"• High or increasing interest rates or credit spreads, volatility in financial markets or the interest rate environment, significant political or economic events, defaults of significant issuers and other market and economic factors may negatively impact the general level of debt issuance, the debt issuance plans of certain categories of borrowers, the level of derivatives trading and/or the types of credit-sensitive products being offered, which impact our Ratings segment and portions of our Market Intelligence, Energy and Indices segments, and in the future could have a material adverse effect on our business, financial condition or results of operations."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"• issuing common stock (potentially creating dilution) or incurring additional debt in order to finance a transaction, which financings may require us to accept onerous terms such as high interest rates or covenants that restrict our business;"},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"• issuing common stock (potentially creating dilution) or incurring additional debt in order to finance a transaction, which financings may require us to accept onerous terms such as high interest rates or covenants that restrict our business;"},{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"Significant inflation and elevated interest rates have negatively affected our business in recent quarters and could continue to negatively affect our business, operating results or financial condition or the markets in which we operate, which, in turn, could adversely affect the price of our ordinary shares."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Adverse changes in the U.S. securities markets, a higher interest rate environment, rising inflation and medical costs could materially increase our benefit plan costs and future funding requirements."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Adverse changes in the U.S. securities markets, a higher interest rate environment, rising inflation and medical costs could materially increase our benefit plan costs and future funding requirements."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"In calculating the recognized benefit costs, we have made certain assumptions regarding future investment returns, interest rates and medical costs."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Changes in the capital and credit markets and general market disruptions, such as prolonged volatility or significant disruption of global financial markets relating to the financial and regulatory environment; interest rate fluctuations; geopolitical conflict; and disruptions impacting traditional banking, have in the past increased and may continue to increase the cost of financing or may restrict our access to potential sources of liquidity on acceptable terms or at all, and impede our ability to comply with debt covenants."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Changes in the capital and credit markets and general market disruptions, such as prolonged volatility or significant disruption of global financial markets relating to the financial and regulatory environment; interest rate fluctuations; geopolitical conflict; and disruptions impacting traditional banking, have in the past increased and may continue to increase the cost of financing or may restrict our access to potential sources of liquidity on acceptable terms or at all, and impede our ability to comply with debt covenants."},{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"For example, in recent years, increased freight costs related to labor, equipment and capacity shortages involving freight hauling, increased interest rates and other factors, had an adverse impact on our margins."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company is exposed to market risk from changes in interest rates and currency exchange rates, which could affect its future results of operations and financial condition."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company is exposed to market risk from changes in interest rates and currency exchange rates, which could affect its future results of operations and financial condition."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The company has periodically hedged interest rate risks of fixed-rate instruments with offsetting interest rate swaps."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"However, we operate in a cyclical industry that is sensitive to shifting consumer trends, political and regulatory uncertainty, including with respect to trade and the environment, all of which can be compounded by inflationary pressures, rising energy prices, interest rate fluctuations and the liquidity of enterprise customers."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"However, we operate in a cyclical industry that is sensitive to shifting consumer trends, political and regulatory uncertainty, including with respect to trade and the environment, all of which can be compounded by inflationary pressures, rising energy prices, interest rate fluctuations and the liquidity of enterprise customers."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Interest income increased $111 million, or 7%, in the year ended December 31, 2025 as compared to the year ended December 31, 2024, primarily due to higher interest earned on our cash and cash equivalents and short-term investments due to an increase in our average portfolio balance, partially offset by a lower average interest rate."}]}},{"ticker":"TXN","cik":"0000097476","rowId":"","companyName":"TEXAS INSTRUMENTS INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"From time to time, we issue debt securities with various interest rates and maturities."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"From time to time, we issue debt securities with various interest rates and maturities."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"We have the following potential exposure to changes in interest rates: (i) the effect of changes in interest rates on the fair value of our investments in cash equivalents and short-term investments, which could produce a gain or a loss; and (ii) the effect of changes in interest rates on the fair value of our debt."}]}},{"ticker":"UBER","cik":"0001543151","rowId":"","companyName":"Uber Technologies, Inc","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"inflation and higher interest rates, changes in labor market dynamics, or decreases in consumer spending power may harm our results of operations."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"inflation and higher interest rates, changes in labor market dynamics, or decreases in consumer spending power may harm our results of operations."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm","accession":"0001543151-26-000015","reportDate":"2025-12-31","text":"In addition, we are exposed to interest rate risk related to some of our indebtedness, which is discussed in greater detail under the section titled “Management's Discussion and Analysis of Financial Condition and Results of Operations - Quantitative and Qualitative Disclosures About Market Risk - Interest Rate Risk.”"}]}},{"ticker":"UNH","cik":"0000731766","rowId":"","companyName":"UNITEDHEALTH GROUP INC","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Volatility in interest rates affects our interest income and the market value of our investments in debt securities of varying maturities which constitute the substantial majority of the fair value of our investments as of December 31, 2025."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Volatility in interest rates affects our interest income and the market value of our investments in debt securities of varying maturities which constitute the substantial majority of the fair value of our investments as of December 31, 2025."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/731766/000073176626000062/unh-20251231.htm","accession":"0000731766-26-000062","reportDate":"2025-12-31","text":"Changes in the value of our investment assets, as a result of interest rate fluctuations, changes in issuer financial or market conditions, illiquidity or otherwise, could have an adverse effect on our equity interests."}]}},{"ticker":"UNP","cik":"0000100885","rowId":"","companyName":"UNION PACIFIC CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"Significant instability or disruptions of the capital markets, including, among other things, elevated interest rates in the credit markets and/or changes in interest rates, or deterioration of our financial condition due to internal or external factors could restrict or prohibit our access to, and significantly increase the cost of, commercial paper and other financing sources, including bank credit facilities and the issuance of long-term debt, including corporate bonds, and could also have a material adverse effect on our results of operations, financial condition, and liquidity."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"Significant instability or disruptions of the capital markets, including, among other things, elevated interest rates in the credit markets and/or changes in interest rates, or deterioration of our financial condition due to internal or external factors could restrict or prohibit our access to, and significantly increase the cost of, commercial paper and other financing sources, including bank credit facilities and the issuance of long-term debt, including corporate bonds, and could also have a material adverse effect on our results of operations, financial condition, and liquidity."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm","accession":"0000100885-26-000037","reportDate":"2025-12-31","text":"We are affected by general economic conditions – Prolonged, severe adverse domestic and global macroeconomic conditions or disruptions of financial and credit markets, including, for example, the cycles of recessionary fears, inflationary pressures, changes in interest rates, and/or related monetary policy actions by governments in response to inflation, may affect the producers and consumers of the commodities we carry and may have a material adverse effect on our access to liquidity, results of operations, and financial condition."}]}},{"ticker":"V","cik":"0001403161","rowId":"","companyName":"VISA INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"Our exposure to financial market risks results primarily from fluctuations in foreign currency exchange rates, interest rates and equity prices."},"evidence":[{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"Our exposure to financial market risks results primarily from fluctuations in foreign currency exchange rates, interest rates and equity prices."},{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"As of September 30, 2025 and 2024, a hypothetical 100 basis point increase in interest rates did not have a material impact on the fair value of our investment securities."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Factors outside of our control, such as economic, legal, regulatory, and political uncertainties; global geopolitical and other conflicts and tensions; inflation (and the potential for increased prices to reduce demand); prolonged periods of high interest rates; and public health crises (such as pandemics or epidemics) have negatively affected, and many such factors could continue to negatively affect, economic activity and growth levels of the U.S."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Factors outside of our control, such as economic, legal, regulatory, and political uncertainties; global geopolitical and other conflicts and tensions; inflation (and the potential for increased prices to reduce demand); prolonged periods of high interest rates; and public health crises (such as pandemics or epidemics) have negatively affected, and many such factors could continue to negatively affect, economic activity and growth levels of the U.S."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1035002/000162828026011499/vlo-20251231.htm","accession":"0001628280-26-011499","reportDate":"2025-12-31","text":"Unstable or illiquid financial market conditions and periods of prolonged high interest rates could also negatively impact our pension plans’ assets and funding requirements."}]}},{"ticker":"VRTX","cik":"0000875320","rowId":"","companyName":"VERTEX PHARMACEUTICALS INC / MA","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. 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The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing;"},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing;"},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"• exposing us to increased interest rate risk to the extent that (i) our debt obligations are subject to variable interest rates or (ii) we need to refinance existing debt that bears interest at a rate lower than current market rates."}]}},{"ticker":"WDC","cik":"0000106040","rowId":"","companyName":"WESTERN DIGITAL CORP","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic and social conditions, including, but not limited to, volatility in the financial markets, reduced access to credit, recession, inflation, rising interest rates, trade wars or changes to tariffs, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, terrorism, other macroeconomic factors and new or changed regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},"evidence":[{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"Adverse changes in global or regional economic and social conditions, including, but not limited to, volatility in the financial markets, reduced access to credit, recession, inflation, rising interest rates, trade wars or changes to tariffs, slower growth in certain geographic regions, political uncertainty, geopolitical tensions or conflicts, terrorism, other macroeconomic factors and new or changed regulations, could significantly harm demand for our products, increase credit and collectability risks, result in revenue reductions, reduce profitability as a result of underutilization of our assets, cause us to change our business practices, increase manufacturing and operating costs or result in impairment charges or other expenses."},{"form":"10-K","filed":"2026-08-14","url":"https://www.sec.gov/Archives/edgar/data/106040/000162828026057139/wdc-20260703.htm","accession":"0001628280-26-057139","reportDate":"2026-07-03","text":"As our bank debt contains a variable interest rate component based on our corporate credit ratings, a decline in our ratings has in the past resulted in, and could in the future result in, increased interest rates and debt service obligations."}]}},{"ticker":"WELL","cik":"0000766704","rowId":"","companyName":"WELLTOWER INC.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Our yield on loans depends upon a number of factors, including the stated interest rate, average principal amount outstanding during the term of the loan and any interest rate adjustments."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Our yield on loans depends upon a number of factors, including the stated interest rate, average principal amount outstanding during the term of the loan and any interest rate adjustments."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Additionally, macroeconomic and geopolitical developments, including public health crises, escalating global conflicts, supply chain disruptions, labor market constraints, rising rates of inflation and high interest rates may amplify many of the risks discussed below to which we are subject."}]}},{"ticker":"WMT","cik":"0000104169","rowId":"","companyName":"Walmart Inc.","candidate":{"label":"U.S. Treasury 10-Year Note","reason":"The SEC annual filing contains a business or financial-risk passage mentioning interest rates or Treasury securities. The 10-year Treasury contract is broad rates context; its maturity and price response may differ from the company’s exposure.","reviewQuestion":"Does the disclosed risk relate to short rates, long rates, asset duration, or funding costs?","filing":{"form":"10-K","filed":"2026-03-13","url":"https://www.sec.gov/Archives/edgar/data/104169/000010416926000055/wmt-20260131.htm","accession":"0000104169-26-000055","reportDate":"2026-01-31","text":"Estimated interest payments are based on our principal amounts and expected maturities of all debt outstanding as of January 31, 2026, and assumes interest rates remain at current levels for our variable rate instruments."},"evidence":[{"form":"10-K","filed":"2026-03-13","url":"https://www.sec.gov/Archives/edgar/data/104169/000010416926000055/wmt-20260131.htm","accession":"0000104169-26-000055","reportDate":"2026-01-31","text":"Estimated interest payments are based on our principal amounts and expected maturities of all debt outstanding as of January 31, 2026, and assumes interest rates remain at current levels for our variable rate instruments."},{"form":"10-K","filed":"2026-03-13","url":"https://www.sec.gov/Archives/edgar/data/104169/000010416926000055/wmt-20260131.htm","accession":"0000104169-26-000055","reportDate":"2026-01-31","text":"In addition to the risks inherent in our operations, we are exposed to certain market risks, including changes in interest rates, currency exchange rates and the fair values of certain equity and equity method investments measured on a recurring basis."}]}}],"reportDate":"2026-09-01","priorDate":"2026-08-25","title":"U.S. Treasury 10-Year Note: Leveraged Funds net share decreased","description":"Net positioning increased by 71,837 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How do corn procurement, inventory, pass-through pricing, and hedging affect margins?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Decreased agricultural productivity in certain regions of the world as a result of changing weather patterns may limit the availability or increase the cost of key agricultural commodities, such as sugarcane, corn, sugar beets, citrus and other fruits, coffee and tea, which are important ingredients for our products, and could impact the food security of communities around the world."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Decreased agricultural productivity in certain regions of the world as a result of changing weather patterns may limit the availability or increase the cost of key agricultural commodities, such as sugarcane, corn, sugar beets, citrus and other fruits, coffee and tea, which are important ingredients for our products, and could impact the food security of communities around the world."}]},"relatedCompanies":[{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Corn","reason":"The SEC annual filing contains a business or financial-risk passage mentioning corn. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How do corn procurement, inventory, pass-through pricing, and hedging affect margins?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Decreased agricultural productivity in certain regions of the world as a result of changing weather patterns may limit the availability or increase the cost of key agricultural commodities, such as sugarcane, corn, sugar beets, citrus and other fruits, coffee and tea, which are important ingredients for our products, and could impact the food security of communities around the world."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Decreased agricultural productivity in certain regions of the world as a result of changing weather patterns may limit the availability or increase the cost of key agricultural commodities, such as sugarcane, corn, sugar beets, citrus and other fruits, coffee and tea, which are important ingredients for our products, and could impact the food security of communities around the world."}]}},{"ticker":"MPC","cik":"0001510295","rowId":"","companyName":"Marathon Petroleum Corp","candidate":{"label":"Corn","reason":"The SEC annual filing contains a business or financial-risk passage mentioning corn. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How do corn procurement, inventory, pass-through pricing, and hedging affect margins?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Our Dickinson, North Dakota, renewables facility has the capacity to produce 184 million gallons per year of renewable diesel from corn oil, soybean oil, fats and greases."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm","accession":"0001510295-26-000009","reportDate":"2025-12-31","text":"Our Dickinson, North Dakota, renewables facility has the capacity to produce 184 million gallons per year of renewable diesel from corn oil, soybean oil, fats and greases."}]}},{"ticker":"PEP","cik":"0000077476","rowId":"","companyName":"PEPSICO INC","candidate":{"label":"Corn","reason":"The SEC annual filing contains a business or financial-risk passage mentioning corn. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"How do corn procurement, inventory, pass-through pricing, and hedging affect margins?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"In addition, climate change or other weather-related disruptions to our supply chain may also have a negative effect on agricultural production resulting in decreased availability or less favorable pricing for certain commodities that are necessary for our products, such as potatoes, sugar cane, corn, wheat, rice, oats, oranges and other commodities."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"In addition, climate change or other weather-related disruptions to our supply chain may also have a negative effect on agricultural production resulting in decreased availability or less favorable pricing for certain commodities that are necessary for our products, such as potatoes, sugar cane, corn, wheat, rice, oats, oranges and other commodities."}]}},{"ticker":"VLO","cik":"0001035002","rowId":"","companyName":"VALERO ENERGY CORP/TX","candidate":{"label":"Corn","reason":"The SEC annual filing contains a business or financial-risk passage mentioning corn. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"As of December 31, 2025, we had outstanding euro- and pound-sterling-denominated debt with both a principal carrying value and a fair value of $2.5 billion."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"We face exposure to movements in foreign currency exchange rates as the financial results and the financial condition of our businesses outside of the U.S., which represent a substantial majority of our financial results, are translated from local currencies (principally Euros and British Pounds Sterling) into U.S."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company’s revenue and expense generated in foreign currencies (primarily the euro and British pound) are impacted by foreign exchange rates."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"We therefore have foreign currency risk related to these currencies, which are primarily the Euro, British pound, Brazilian real, Mexican peso, Canadian dollar, and Argentine peso."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"• In June 2025, we established an additional commercial paper program, under which we may issue, repay and re-issue short-term unsecured commercial paper notes (“CPNs”) denominated in British pound sterling, euros or U.S. dollars in an aggregate amount of up to €1.0 billion (or its equivalent in other currencies)."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."}]}},{"ticker":"STX","cik":"0001137789","rowId":"","companyName":"Seagate Technology Holdings plc","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/1137789/000113778926000159/stx-20260703.htm","accession":"0001137789-26-000159","reportDate":"2026-07-03","text":"In addition, we have revenue and expenses denominated in currencies other than the dollar, primarily the Thai Baht, Singaporean dollar, Chinese Renminbi and British Pound Sterling, which further exposes us to adverse movements in foreign currency exchange rates."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"TXN","cik":"0000097476","rowId":"","companyName":"TEXAS INSTRUMENTS INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"As of December 31, 2025, we had forward currency exchange contracts outstanding with a notional value of $675 million to hedge net balance sheet exposures (including $174 million to sell Malaysian ringgit, $169 million to buy Indian rupee and $107 million to sell British pounds)."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"As of December 31, 2025, we had forward currency exchange contracts outstanding with a notional value of $675 million to hedge net balance sheet exposures (including $174 million to sell Malaysian ringgit, $169 million to buy Indian rupee and $107 million to sell British pounds)."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/97476/000009747626000059/txn-20251231.htm","accession":"0000097476-26-000059","reportDate":"2025-12-31","text":"Our forward foreign currency exchange contracts outstanding as of December 31, 2025, had a notional value of $ 675 million to hedge our non-U.S. dollar net balance sheet exposures, including $ 174 million to sell Malaysian ringgit, $ 169 million to buy Indian rupee and $ 107 million to sell British pounds."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"British Pound","reason":"The SEC annual filing contains a business or financial-risk passage mentioning pound. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does sterling exposure arise from revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2024, approximately $30.5 billion, or 20.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."}]}}],"reportDate":"2026-09-01","priorDate":"2026-08-25","title":"British Pound: Leveraged Funds net share decreased","description":"Net positioning decreased by 4,742 contracts. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products, (iii) copper wire and optical fiber and (iv) plastic materials."}]}},{"ticker":"MRVL","cik":"0001835632","rowId":"","companyName":"Marvell Technology, Inc.","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"LPO modules enabled by our chipsets provide higher bandwidth and greater reach than copper cable interconnects, with optimal latency and power consumption."},"evidence":[{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"LPO modules enabled by our chipsets provide higher bandwidth and greater reach than copper cable interconnects, with optimal latency and power consumption."},{"form":"10-K","filed":"2026-03-11","url":"https://www.sec.gov/Archives/edgar/data/1835632/000183563226000011/mrvl-20260131.htm","accession":"0001835632-26-000011","reportDate":"2026-01-31","text":"We are also subject to risk from increasing or fluctuating market prices of certain commodity raw materials, including gold and copper, which are incorporated into our end products or used by our suppliers to manufacture our end products."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"• A substantial or extended decline in gold, copper, silver, lead or zinc prices would have a material adverse effect on us."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is copper a revenue driver or an input cost, and are volumes or prices hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Copper Decommissioning While building the network of the future, we are actively working to exit our legacy copper network operations across the large majority of our wireline footprint."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"Copper Decommissioning While building the network of the future, we are actively working to exit our legacy copper network operations across the large majority of our wireline footprint."},{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We offer legacy voice and other transitional services comprised of copper-based voice and data, Virtual Private Networks (VPN), wholesale, outsourcing and IP sales."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"Copper No. 1","reason":"The SEC annual filing contains a business or financial-risk passage mentioning copper. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does silver affect production revenue, input costs, or holdings?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products (iii) copper wire and optical fiber, and (iv) plastic materials."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products, (iii) copper wire and optical fiber and (iv) plastic materials."}]}},{"ticker":"DELL","cik":"0001571996","rowId":"","companyName":"Dell Technologies Inc.","candidate":{"label":"Silver","reason":"The SEC annual filing contains a business or financial-risk passage mentioning silver. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does silver affect production revenue, input costs, or holdings?","filing":{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"Because of these disparate voting rights, Michael Dell and the Susan Lieberman Dell Separate Property Trust (the “MD stockholders”) and certain investment funds affiliated with Silver Lake Partners (the “SLP stockholders”) collectively held common stock representing approximately 91.7% of the total voting power of our outstanding common stock as of March 9, 2026."},"evidence":[{"form":"10-K","filed":"2026-03-16","url":"https://www.sec.gov/Archives/edgar/data/1571996/000157199626000008/dell-20260130.htm","accession":"0001571996-26-000008","reportDate":"2026-01-30","text":"Because of these disparate voting rights, Michael Dell and the Susan Lieberman Dell Separate Property Trust (the “MD stockholders”) and certain investment funds affiliated with Silver Lake Partners (the “SLP stockholders”) collectively held common stock representing approximately 91.7% of the total voting power of our outstanding common stock as of March 9, 2026."}]}},{"ticker":"NEM","cik":"0001164727","rowId":"","companyName":"NEWMONT Corp /DE/","candidate":{"label":"Silver","reason":"The SEC annual filing contains a business or financial-risk passage mentioning silver. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does silver affect production revenue, input costs, or holdings?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"References in this report to “attributable” means that portion of gold, copper, silver, lead, or zinc produced, sold or included in proven and probable reserves and measured, indicated, and inferred resources based on our proportionate ownership, unless otherwise noted."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm","accession":"0001164727-26-000010","reportDate":"2025-12-31","text":"• A substantial or extended decline in gold, copper, silver, lead or zinc prices would have a material adverse effect on us."}]}},{"ticker":"WELL","cik":"0000766704","rowId":"","companyName":"WELLTOWER INC.","candidate":{"label":"Silver","reason":"The SEC annual filing contains a business or financial-risk passage mentioning silver. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Does silver affect production revenue, input costs, or holdings?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Welltower Inc. (NYSE:WELL), a real estate investment trust (“REIT”) and S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom and Canada."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Welltower Inc. (NYSE:WELL), a real estate investment trust (“REIT”) and S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom and Canada."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm","accession":"0000766704-26-000010","reportDate":"2025-12-31","text":"Welltower Inc. (NYSE: WELL), a real estate investment trust (“REIT”) and S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom and Canada."}]}}],"reportDate":"2026-09-01","priorDate":"2026-08-25","title":"Silver: total open interest decreased","description":"Net positioning decreased by 1,475 contracts. Reported longs changed by -2,265 and reported shorts by -790 contracts. Net share of total open interest changed by -0.29 percentage points. 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Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of € 3.1  billion at December 31, 2025 and December 31, 2024."}]},"relatedCompanies":[{"ticker":"ABBV","cik":"0001551152","rowId":"","companyName":"AbbVie Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"As of December 31, 2025, the company has unsecured senior Euro notes outstanding, which are exposed to foreign currency risk."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1551152/000155115226000008/abbv-20251231.htm","accession":"0001551152-26-000008","reportDate":"2025-12-31","text":"The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of € 3.1  billion at December 31, 2025 and December 31, 2024."}]}},{"ticker":"ADI","cik":"0000006281","rowId":"","companyName":"ANALOG DEVICES INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Currently, our largest foreign currency exposure is the Euro, primarily because our European operations have the highest proportion of our local currency denominated expenses."},"evidence":[{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Currently, our largest foreign currency exposure is the Euro, primarily because our European operations have the highest proportion of our local currency denominated expenses."},{"form":"10-K","filed":"2025-11-25","url":"https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm","accession":"0000006281-25-000153","reportDate":"2025-11-01","text":"Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso, Thai Baht, Malaysian Ringgit and the Japanese Yen."}]}},{"ticker":"AMAT","cik":"0000006951","rowId":"","companyName":"APPLIED MATERIALS INC /DE","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},"evidence":[{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"Certain of our operations are conducted in foreign currencies, such as Japanese yen, Israeli shekel, euro and Taiwanese dollar."},{"form":"10-K","filed":"2025-12-12","url":"https://www.sec.gov/Archives/edgar/data/6951/000162828025056742/amat-20251026.htm","accession":"0001628280-25-056742","reportDate":"2025-10-26","text":"We conduct business in a number of foreign countries, with certain transactions denominated in local currencies, such as the Japanese yen, Israeli shekel, euro and Taiwanese dollar."}]}},{"ticker":"AMGN","cik":"0000318154","rowId":"","companyName":"AMGEN INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"To hedge our exposure to foreign currency exchange rate risk associated with certain of our long-term notes denominated in foreign currencies, we entered into cross-currency swap contracts, which effectively converted the interest payments and principal repayment of the respective notes from euros and pounds sterling to U.S. dollars."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","accession":"0000318154-26-000010","reportDate":"2025-12-31","text":"Our international operations are affected by fluctuations in the value of the U.S. dollar compared with foreign currencies, predominantly the euro."}]}},{"ticker":"AMZN","cik":"0001018724","rowId":"","companyName":"AMAZON COM INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen."},{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm","accession":"0001018724-26-000004","reportDate":"2025-12-31","text":"Net sales and related expenses generated from our internationally-focused stores, including within Canada and Mexico (which are included in our North America segment), are primarily denominated in the functional currencies of the corresponding stores and primarily include Euros, British Pounds, and Japanese Yen."}]}},{"ticker":"APH","cik":"0000820313","rowId":"","companyName":"AMPHENOL CORP /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company has excluded expected interest payments on the Revolving Credit Facility, Commercial Paper Program and Euro Commercial Paper Program from the above table, as this calculation is largely dependent on average debt levels during each of the years presented."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"The Company has excluded expected interest payments on the Revolving Credit Facility, Commercial Paper Program and Euro Commercial Paper Program from the above table, as this calculation is largely dependent on average debt levels during each of the years presented."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/820313/000110465926013549/aph-20251231x10k.htm","accession":"0001104659-26-013549","reportDate":"2025-12-31","text":"Company’s Common Stock of $665.2, (c) dividend payments of $802.2, (d) payments of $89.1 related to debt financing costs associated with the Delayed Draw Term Loans, as well as the issuances of the 2028 Senior Notes, the 2032 Euro Notes and the November Senior Notes, (e) settlement of the treasury locks of $88.0, and (f) distributions to and purchases of noncontrolling interests of $5.8."}]}},{"ticker":"BKNG","cik":"0001075531","rowId":"","companyName":"Booking Holdings Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},"evidence":[{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"Dollars, we face exposure to movements in foreign currency exchange rates (principally related to Euros and British Pounds Sterling)."},{"form":"10-K","filed":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm","accession":"0001075531-26-000009","reportDate":"2025-12-31","text":"In addition, we may designate certain portions of the aggregate principal value of our Euro-denominated debt as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries."}]}},{"ticker":"BLK","cik":"0002012383","rowId":"","companyName":"BlackRock, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"Portfolios are denominated in US dollars, euros, British pounds, Swiss francs, Canadian dollars, New Zealand dollars or Australian dollars."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/2012383/000119312526071966/blk-20251231.htm","accession":"0001193125-26-071966","reportDate":"2025-12-31","text":"The Company’s revenue and expense generated in foreign currencies (primarily the euro and British pound) are impacted by foreign exchange rates."}]}},{"ticker":"BMY","cik":"0000014272","rowId":"","companyName":"BRISTOL MYERS SQUIBB CO","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"In November 2025, BMS Ireland Capital Funding Designated Activity Company, a wholly-owned subsidiary of Bristol-Myers Squibb, completed a registered public offering of €5.0 billion in aggregate principal amount of euro-denominated senior unsecured notes (\"2025 Senior Unsecured Notes\"), with proceeds, net of loan issuance costs, of $5.7 billion."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"In November 2025, BMS Ireland Capital Funding Designated Activity Company, a wholly-owned subsidiary of Bristol-Myers Squibb, completed a registered public offering of €5.0 billion in aggregate principal amount of euro-denominated senior unsecured notes (\"2025 Senior Unsecured Notes\"), with proceeds, net of loan issuance costs, of $5.7 billion."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","accession":"0000014272-26-000004","reportDate":"2025-12-31","text":"Cross-currency swap contracts are used to manage risk arising from long-term debt denominated in euros and to hedge the Company's net investment in its foreign subsidiaries."}]}},{"ticker":"CAT","cik":"0000018230","rowId":"","companyName":"CATERPILLAR INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"Our primary exposure (excluding competitive risk) is to exchange rate movements in the Australian dollar, Chinese yuan, Euro, Indian rupee and Mexican peso."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/18230/000001823026000008/cat-20251231.htm","accession":"0000018230-26-000008","reportDate":"2025-12-31","text":"Our primary exposure (excluding competitive risk) is to exchange rate movements in the Australian dollar, Chinese yuan, Euro, Indian rupee and Mexican peso."}]}},{"ticker":"CB","cik":"0000896159","rowId":"","companyName":"Chubb Ltd","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"From time to time, we use derivatives to hedge planned cross-border transactions, and designate certain derivatives to hedge foreign currency risk on our euro denominated debt and exposure in the net investments of certain foreign subsidiaries."},"evidence":[{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"From time to time, we use derivatives to hedge planned cross-border transactions, and designate certain derivatives to hedge foreign currency risk on our euro denominated debt and exposure in the net investments of certain foreign subsidiaries."},{"form":"10-K","filed":"2026-02-27","url":"https://www.sec.gov/Archives/edgar/data/896159/000089615926000005/cb-20251231.htm","accession":"0000896159-26-000005","reportDate":"2025-12-31","text":"Chubb holds certain cross-currency swaps designated as fair value hedges and net investment hedges for foreign currency exposure associated with portions of our euro denominated debt and the net investment in certain foreign subsidiaries, respectively."}]}},{"ticker":"COF","cik":"0000927628","rowId":"","companyName":"CAPITAL ONE FINANCIAL CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are also exposed to foreign exchange risk due to changes in the dollar-denominated value of future earnings and cash flows from our foreign operations and from our Euro (“EUR”)-denominated borrowing."},"evidence":[{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"We are also exposed to foreign exchange risk due to changes in the dollar-denominated value of future earnings and cash flows from our foreign operations and from our Euro (“EUR”)-denominated borrowing."},{"form":"10-K","filed":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm","accession":"0000927628-26-000024","reportDate":"2025-12-31","text":"Our non-dollar denominated intercompany funding and EUR-denominated borrowing expose our earnings to foreign exchange transaction risk."}]}},{"ticker":"CRM","cik":"0001108524","rowId":"","companyName":"Salesforce, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},"evidence":[{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to currency fluctuations primarily in Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar, Brazilian Real and Indian Rupee against the U.S."},{"form":"10-K","filed":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1108524/000110852426000060/crm-20260131.htm","accession":"0001108524-26-000060","reportDate":"2026-01-31","text":"Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”)."}]}},{"ticker":"CRWD","cik":"0001535527","rowId":"","companyName":"CrowdStrike Holdings, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates."},{"form":"10-K","filed":"2026-03-05","url":"https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm","accession":"0001535527-26-000010","reportDate":"2026-01-31","text":"A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro."}]}},{"ticker":"DHR","cik":"0000313616","rowId":"","companyName":"DANAHER CORP /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"As of December 31, 2025, the Company has classified approximately $3.5 billion of its borrowings outstanding under the euro-denominated commercial paper program, the 2026 Biopharma Euronotes and the 2026 Euronotes as long-term debt in the Consolidated Balance Sheet as the Company has the intent and ability, as supported by availability under the Credit Facility, to refinance these borrowings for at least one year from the balance sheet date."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"As of December 31, 2025, the Company has classified approximately $3.5 billion of its borrowings outstanding under the euro-denominated commercial paper program, the 2026 Biopharma Euronotes and the 2026 Euronotes as long-term debt in the Consolidated Balance Sheet as the Company has the intent and ability, as supported by availability under the Credit Facility, to refinance these borrowings for at least one year from the balance sheet date."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm","accession":"0000313616-26-000062","reportDate":"2025-12-31","text":"Under the Company’s U.S. dollar and euro-denominated commercial paper program, the notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to the Secured Overnight Financing Rate or Euro Interbank Offer Rate, depending on the applicable currency of the borrowing."}]}},{"ticker":"ETN","cik":"0001551182","rowId":"","companyName":"Eaton Corp plc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"Further, as of December 31, 2025, all of these long-term debt instruments, except the 0.128 % Euro notes due 2026, the 0.577 % Euro notes due 2030, the 3.601 % Euro notes due 2031, and the 3.802 % Euro notes due 2036 are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes)."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"Further, as of December 31, 2025, all of these long-term debt instruments, except the 0.128 % Euro notes due 2026, the 0.577 % Euro notes due 2030, the 3.601 % Euro notes due 2031, and the 3.802 % Euro notes due 2036 are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes)."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","accession":"0001551182-26-000007","reportDate":"2025-12-31","text":"On May 9, 2025, a subsidiary of Eaton issued Euro denominated notes (2025 Euro Notes) with a face amount of € 500  million ($ 564  million)."}]}},{"ticker":"GILD","cik":"0000882095","rowId":"","companyName":"GILEAD SCIENCES, INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Foreign Currency Exchange: Because a significant percentage of our product sales is denominated in foreign currencies, primarily the Euro, we face exposure to adverse movements in foreign currency exchange rates."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"• Foreign Currency Exchange: Because a significant percentage of our product sales is denominated in foreign currencies, primarily the Euro, we face exposure to adverse movements in foreign currency exchange rates."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","accession":"0000882095-26-000006","reportDate":"2025-12-31","text":"We generally face exposure to movements in foreign currency exchange rates, primarily in the Euro."}]}},{"ticker":"GLW","cik":"0000024741","rowId":"","companyName":"CORNING INC /NY","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/24741/000002474126000124/glw-20251231.htm","accession":"0000024741-26-000124","reportDate":"2025-12-31","text":"The impact to income from unrealized activity for the year ended December 31, 2025 was primarily driven by unrealized gains from our South Korean won, Japanese yen, Mexican peso-denominated hedges, partially offset by unrealized losses from our euro-denominated hedges."}]}},{"ticker":"GOOGL","cik":"0001652044","rowId":"","companyName":"Alphabet Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"During 2025, we issued $22.5 billion of US dollar-denominated senior unsecured notes and €13.25 billion of euro-denominated senior unsecured notes for general corporate purposes, comprised of the following:"},"evidence":[{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"During 2025, we issued $22.5 billion of US dollar-denominated senior unsecured notes and €13.25 billion of euro-denominated senior unsecured notes for general corporate purposes, comprised of the following:"},{"form":"10-K","filed":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","accession":"0001652044-26-000018","reportDate":"2025-12-31","text":"We also issued €6.75 billion of euro-denominated fixed-rate senior unsecured notes with a weighted-average coupon rate of 3.31%, and a weighted-average maturity of approximately 14 years."}]}},{"ticker":"INTC","cik":"0000050863","rowId":"","companyName":"INTEL CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/50863/000005086326000011/intc-20251227.htm","accession":"0000050863-26-000011","reportDate":"2025-12-27","text":"However, a portion of our operating expenditures and capital purchases are incurred in other currencies, primarily the Israeli shekel, the Malaysian ringgit, the European Union euro, the Japanese yen, and the Chinese yuan."}]}},{"ticker":"ISRG","cik":"0001035267","rowId":"","companyName":"INTUITIVE SURGICAL INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","accession":"0001035267-26-000010","reportDate":"2025-12-31","text":"The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”),"}]}},{"ticker":"JNJ","cik":"0000200406","rowId":"","companyName":"JOHNSON & JOHNSON","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company designated its Euro denominated notes with due dates ranging from 2028 to 2055 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/200406/000020040626000016/jnj-20251228.htm","accession":"0000200406-26-000016","reportDate":"2025-12-28","text":"The Company designated its Euro denominated notes with due dates ranging from 2028 to 2055 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates."}]}},{"ticker":"KLAC","cik":"0000319201","rowId":"","companyName":"KLA CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},"evidence":[{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We have some exposure to fluctuations in foreign currency exchange rates, primarily the Japanese Yen, the euro, the pound sterling and the new Israeli shekel."},{"form":"10-K","filed":"2026-08-06","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","accession":"0000319201-26-000027","reportDate":"2026-06-30","text":"We utilize foreign exchange contracts to hedge against future movements in foreign currency exchange rates that affect certain existing and forecasted foreign currency denominated sales and purchase transactions, such as the Japanese yen, the euro, the pound sterling and the new Israeli shekel."}]}},{"ticker":"KO","cik":"0000021344","rowId":"","companyName":"COCA COLA CO","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},"evidence":[{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the euro, British pound, South African rand and Japanese yen, which had a favorable impact on our EMEA, Bottling Investments and Asia Pacific operating segments."},{"form":"10-K","filed":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm","accession":"0001628280-26-010047","reportDate":"2025-12-31","text":"Our Company enters into forward exchange contracts and purchases foreign currency options and collars (principally euro, British pound and Japanese yen) to hedge certain portions of forecasted cash flows denominated in foreign currencies."}]}},{"ticker":"LIN","cik":"0001707925","rowId":"","companyName":"LINDE PLC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"For the twelve months ended December 31, 2025, Linde issued €4,000 million Euro-denominated notes and CHF500 million Swiss-franc denominated notes, and redeemed or repaid $1,000 million U.S. dollar-denominated notes and €1,000 million Euro denominated notes (see Note 11)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"For the twelve months ended December 31, 2025, Linde issued €4,000 million Euro-denominated notes and CHF500 million Swiss-franc denominated notes, and redeemed or repaid $1,000 million U.S. dollar-denominated notes and €1,000 million Euro denominated notes (see Note 11)."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/1707925/000162828026011430/lin-20251231.htm","accession":"0001628280-26-011430","reportDate":"2025-12-31","text":"(g) In November 2025, Linde issued three tranches of euro-denominated notes, € 600 million of floating-rate notes due in 2027, at three-month EURIBOR plus a fixed spread and resetting quarterly ( 2.271 % as of December 31, 2025); € 650 million of 3.125 % fixed-rate notes due in 2032, and € 500 million of 3.750 % fixed-rate notes due in 2038."}]}},{"ticker":"LLY","cik":"0000059478","rowId":"","companyName":"ELI LILLY & Co","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},"evidence":[{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"As a global company, we face foreign currency risk exposure from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."},{"form":"10-K","filed":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","accession":"0000059478-26-000013","reportDate":"2025-12-31","text":"Our foreign currency risk exposure results from fluctuating currency exchange rates, primarily the U.S. dollar against the euro, Japanese yen, Chinese yuan, and British pound sterling."}]}},{"ticker":"LRCX","cik":"0000707549","rowId":"","companyName":"LAM RESEARCH CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},"evidence":[{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"However, we are exposed to foreign currency exchange rate fluctuations primarily related to revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."},{"form":"10-K","filed":"2026-08-07","url":"https://www.sec.gov/Archives/edgar/data/707549/000070754926000037/lrcx-20260628.htm","accession":"0000707549-26-000037","reportDate":"2026-06-28","text":"Currently, we hedge certain anticipated foreign currency cash flows, primarily anticipated revenues denominated in Japanese yen and expenses denominated in euro, Korean won, Malaysian ringgit, and Indian rupee."}]}},{"ticker":"MA","cik":"0001141391","rowId":"","companyName":"Mastercard Inc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"The objective of these activities is to reduce our exposure to gains and losses resulting from fluctuations of foreign currencies against our functional currencies, principally the U.S. dollar and euro."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"The objective of these activities is to reduce our exposure to gains and losses resulting from fluctuations of foreign currencies against our functional currencies, principally the U.S. dollar and euro."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm","accession":"0001141391-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, the Company had € 1.7 billion and € 1.3 billion euro-denominated debt outstanding designated as hedges of a portion of its net investment in its European operations."}]}},{"ticker":"MDT","cik":"0001613103","rowId":"","companyName":"Medtronic plc","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2026, the Company issued two tranches of Euro-denominated Senior Notes with an aggregate principal of €1.5 billion, or $1.7 billion."},"evidence":[{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2026, the Company issued two tranches of Euro-denominated Senior Notes with an aggregate principal of €1.5 billion, or $1.7 billion."},{"form":"10-K","filed":"2026-06-18","url":"https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/mdt-20260424.htm","accession":"0001628280-26-044354","reportDate":"2026-04-24","text":"In fiscal year 2025, the Company issued four tranches of Euro-denominated Senior Notes with an aggregate principal of €3.0 billion, or $3.2 billion, which was partially offset by repayments of commercial paper of $1.1 billion."}]}},{"ticker":"META","cik":"0001326801","rowId":"","companyName":"Meta Platforms, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, the majority of which is in Euro."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm","accession":"0001628280-26-003942","reportDate":"2025-12-31","text":"We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, the majority of which is in Euro."}]}},{"ticker":"MO","cik":"0000764180","rowId":"","companyName":"ALTRIA GROUP, INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"▪ Debt Repayment - In the second quarter of 2025, we repaid in full at maturity (i) senior unsecured notes in the aggregate principal amount of $750 million and (ii) senior unsecured Euro notes in the aggregate principal amount of €750 million ($857 million)."},"evidence":[{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"▪ Debt Repayment - In the second quarter of 2025, we repaid in full at maturity (i) senior unsecured notes in the aggregate principal amount of $750 million and (ii) senior unsecured Euro notes in the aggregate principal amount of €750 million ($857 million)."},{"form":"10-K","filed":"2026-02-25","url":"https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/mo-20251231.htm","accession":"0000764180-26-000017","reportDate":"2025-12-31","text":"Our investment in ABI, whose functional currency is the Euro, exposes us to foreign currency exchange risk on the carrying value of our investment."}]}},{"ticker":"MRK","cik":"0000310158","rowId":"","companyName":"Merck & Co., Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"In 2024, the Company’s $750 million, 2.90% notes and the Company’s €500 million, 0.50% euro-denominated notes matured in accordance with their terms and were repaid."},"evidence":[{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"In 2024, the Company’s $750 million, 2.90% notes and the Company’s €500 million, 0.50% euro-denominated notes matured in accordance with their terms and were repaid."},{"form":"10-K","filed":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm","accession":"0000310158-26-000063","reportDate":"2025-12-31","text":"Merck principally utilizes forward exchange contracts to offset the effects of foreign exchange on exposures when it is deemed economical to do so based on a cost-benefit analysis that considers the magnitude of the exposure, the volatility of the foreign exchange rate and the cost of the hedging instrument (primarily the euro, Swiss franc, Japanese yen, and Chinese renminbi)."}]}},{"ticker":"MU","cik":"0000723125","rowId":"","companyName":"MICRON TECHNOLOGY INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},"evidence":[{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, across our global operations, significant transactions and balances are denominated in currencies other than the U.S. dollar (our reporting currency), primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."},{"form":"10-K","filed":"2025-10-03","url":"https://www.sec.gov/Archives/edgar/data/723125/000072312525000028/mu-20250828.htm","accession":"0000723125-25-000028","reportDate":"2025-08-28","text":"The substantial majority of our sales are transacted in the U.S. dollar; however, significant amounts of our operating expenses and capital expenditures, and certain assets and liabilities, are incurred in or exposed to other currencies, primarily the Canadian dollar, Chinese yuan, euro, Indian rupee, Japanese yen, Malaysian ringgit, New Taiwan dollar, and Singapore dollar."}]}},{"ticker":"NFLX","cik":"0001065280","rowId":"","companyName":"NETFLIX INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"ended December 31, 2025, the foreign exchange losses were primarily driven by the non-cash loss of $72 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts, coupled with the remeasurement of cash and content liability positions in currencies other than the functional currencies."},"evidence":[{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"ended December 31, 2025, the foreign exchange losses were primarily driven by the non-cash loss of $72 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts, coupled with the remeasurement of cash and content liability positions in currencies other than the functional currencies."},{"form":"10-K","filed":"2026-01-23","url":"https://www.sec.gov/Archives/edgar/data/1065280/000106528026000034/nflx-20251231.htm","accession":"0001065280-26-000034","reportDate":"2025-12-31","text":"The foreign exchange losses in the year ended December 31, 2024 were primarily driven by the remeasurement of cash and content liability positions in currencies other than the functional currencies, partially offset by a non-cash gain of $122 million from the remeasurement of our Senior Notes denominated in Euro, net of hedging impacts."}]}},{"ticker":"ORCL","cik":"0001341439","rowId":"","companyName":"ORACLE CORP","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Dollar against the Euro and most other major international currencies, adversely affects our revenue growth by reducing the U.S."},"evidence":[{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"Dollar against the Euro and most other major international currencies, adversely affects our revenue growth by reducing the U.S."},{"form":"10-K","filed":"2026-06-22","url":"https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm","accession":"0001193125-26-277521","reportDate":"2026-05-31","text":"For example, if an entity reporting in Euros had revenues of 1.0 million Euros from products sold on May 31, 2026 and 2025, our financial statements would reflect reported revenues of $1.16 million in fiscal 2026 (using 1.16 as the applicable average exchange rate for the period) and $1.13 million in fiscal 2025 (using 1.13 as the applicable average exchange rate for the period)."}]}},{"ticker":"PEP","cik":"0000077476","rowId":"","companyName":"PEPSICO INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"Subsequent to December 27, 2025, we designated $4.5 billion of existing euro denominated debt as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."},"evidence":[{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"Subsequent to December 27, 2025, we designated $4.5 billion of existing euro denominated debt as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."},{"form":"10-K","filed":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/77476/000007747626000007/pep-20251227.htm","accession":"0000077476-26-000007","reportDate":"2025-12-27","text":"(b) These notes, issued in euros, were designated as net investment hedges to partially offset the effects of foreign currency on our investments in certain of our foreign subsidiaries."}]}},{"ticker":"PFE","cik":"0000078003","rowId":"","companyName":"PFIZER INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/78003/000007800326000026/pfe-20251231.htm","accession":"0000078003-26-000026","reportDate":"2025-12-31","text":"The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years ."}]}},{"ticker":"PG","cik":"0000080424","rowId":"","companyName":"PROCTER & GAMBLE Co","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"The maturity cash outflows of foreign currency debt and derivative instruments could be adversely impacted by significant appreciation of foreign currency exchange rates (particularly the Euro), which could impact our overall cash flows and interest expense."},"evidence":[{"form":"10-K","filed":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm","accession":"0000080424-26-000103","reportDate":"2026-06-30","text":"The maturity cash outflows of foreign currency debt and derivative instruments could be adversely impacted by significant appreciation of foreign currency exchange rates (particularly the Euro), which could impact our overall cash flows and interest expense."}]}},{"ticker":"PLD","cik":"0001045609","rowId":"","companyName":"Prologis, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},"evidence":[{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $13.7 billion, or 13.8% of our total consolidated assets, were invested in a currency other than the U.S. dollar, principally the British pound sterling, Canadian dollar, euro and Japanese yen."},{"form":"10-K","filed":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/1045609/000119312526051453/pld-20251231.htm","accession":"0001193125-26-051453","reportDate":"2025-12-31","text":"• In June 2025, we established an additional commercial paper program, under which we may issue, repay and re-issue short-term unsecured commercial paper notes (“CPNs”) denominated in British pound sterling, euros or U.S. dollars in an aggregate amount of up to €1.0 billion (or its equivalent in other currencies)."}]}},{"ticker":"PLTR","cik":"0001321655","rowId":"","companyName":"Palantir Technologies Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro, Japanese yen (“JPY”), and British pound sterling (“GBP”)."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/1321655/000132165526000011/pltr-20251231.htm","accession":"0001321655-26-000011","reportDate":"2025-12-31","text":"However, when the U.S. dollar strengthens compared to other currencies (primarily the Euro and GBP), it has had, and could in the future have, an unfavorable impact on our revenues and expenses from certain non-U.S. customers or vendors whose contracts are denominated in currencies other than the U.S. dollar."}]}},{"ticker":"PM","cik":"0001413329","rowId":"","companyName":"Philip Morris International Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Foreign currency denominated debt and the majority of our $50 billion gross notional amount of derivative financial instruments are subject to foreign currency exchange rates fluctuation, primarily between the Euro and U.S."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/1413329/000162828026005939/pm-20251231.htm","accession":"0001628280-26-005939","reportDate":"2025-12-31","text":"Foreign currency denominated debt and the majority of our $50 billion gross notional amount of derivative financial instruments are subject to foreign currency exchange rates fluctuation, primarily between the Euro and U.S."}]}},{"ticker":"RTX","cik":"0000101829","rowId":"","companyName":"RTX Corp","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"As of December 31 2024, we had € 320 million of our € 500 million principal value of euro-denominated long-term debt designated as a net investment hedge against our investments in European businesses."},"evidence":[{"form":"10-K","filed":"2026-02-06","url":"https://www.sec.gov/Archives/edgar/data/101829/000010182926000006/rtx-20251231.htm","accession":"0000101829-26-000006","reportDate":"2025-12-31","text":"As of December 31 2024, we had € 320 million of our € 500 million principal value of euro-denominated long-term debt designated as a net investment hedge against our investments in European businesses."}]}},{"ticker":"SPGI","cik":"0000064040","rowId":"","companyName":"S&P Global Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, we held cross currency swaps to hedge a portion of our net investment in one of our European subsidiaries against volatility in the Euro/U.S. dollar exchange rate."},"evidence":[{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"As of December 31, 2025 and 2024, we held cross currency swaps to hedge a portion of our net investment in one of our European subsidiaries against volatility in the Euro/U.S. dollar exchange rate."},{"form":"10-K","filed":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/64040/000006404026000013/spgi-20251231.htm","accession":"0000064040-26-000013","reportDate":"2025-12-31","text":"During the twelve months ended December 31, 2025, 2024 and 2023, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the fourth quarter of 2027, 2026 and 2025, respectively."}]}},{"ticker":"T","cik":"0000732717","rowId":"","companyName":"AT&T INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."},"evidence":[{"form":"10-K","filed":"2026-02-09","url":"https://www.sec.gov/Archives/edgar/data/732717/000073271726000120/t-20251231.htm","accession":"0000732717-26-000120","reportDate":"2025-12-31","text":"We had outstanding Euro, British pound sterling, Canadian dollar, Australian dollar and Swiss franc denominated debt of approximately $ 35,307 and $ 30,685 at December 31, 2025 and 2024, respectively."}]}},{"ticker":"TJX","cik":"0000109198","rowId":"","companyName":"TJX COMPANIES INC /DE/","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."},"evidence":[{"form":"10-K","filed":"2026-03-31","url":"https://www.sec.gov/Archives/edgar/data/109198/000010919826000008/tjx-20260131.htm","accession":"0000109198-26-000008","reportDate":"2026-01-31","text":"Our currency risk primarily relates to our activity in the Canadian dollar, British pound and Euro."}]}},{"ticker":"TMO","cik":"0000097745","rowId":"","companyName":"THERMO FISHER SCIENTIFIC INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},"evidence":[{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"The functional currencies of the company’s international subsidiaries are principally denominated in British pounds sterling, euro, Swedish krona, Canadian dollars and Norwegian kroner."},{"form":"10-K","filed":"2026-02-26","url":"https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm","accession":"0000097745-26-000018","reportDate":"2025-12-31","text":"A portion of the company’s euro-denominated senior notes, certain foreign currency-denominated payables, and its cross-currency interest rate swaps have been designated as, and are effective as, economic hedges of part of the net investment in a foreign operation."}]}},{"ticker":"TSLA","cik":"0001318605","rowId":"","companyName":"Tesla, Inc.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"We transact business globally in multiple currencies and hence have foreign currency risks related to our revenue, costs of revenue and operating expenses denominated in currencies other than the U.S. dollar (primarily the Chinese yuan and euro in relation to our current year operations)."},"evidence":[{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"We transact business globally in multiple currencies and hence have foreign currency risks related to our revenue, costs of revenue and operating expenses denominated in currencies other than the U.S. dollar (primarily the Chinese yuan and euro in relation to our current year operations)."},{"form":"10-K","filed":"2026-01-29","url":"https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm","accession":"0001628280-26-003952","reportDate":"2025-12-31","text":"Borrowed funds accrue interest at a variable rate equal to: (i) for dollar-denominated loans, at our election, (a) Term SOFR (the forward-looking secured overnight financing rate) plus 0.10 %, or (b) an alternate base rate; (ii) for loans denominated in pounds sterling, SONIA (the sterling overnight index average reference rate); or (iii) for loans denominated in euros, an adjusted EURIBOR (euro interbank offered rate); in each case, plus an applicable margin."}]}},{"ticker":"V","cik":"0001403161","rowId":"","companyName":"VISA INC.","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"In May 2025, we issued Euro-denominated fixed-rate senior notes in a public offering in an aggregate principal amount of €3.5 billion ($3.9 billion), with maturities ranging between 3 and 19 years."},"evidence":[{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"In May 2025, we issued Euro-denominated fixed-rate senior notes in a public offering in an aggregate principal amount of €3.5 billion ($3.9 billion), with maturities ranging between 3 and 19 years."},{"form":"10-K","filed":"2025-11-06","url":"https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm","accession":"0001403161-25-000089","reportDate":"2025-09-30","text":"We are further exposed to foreign currency exchange rate risk related to translation as the functional currency of Visa Europe is the Euro."}]}},{"ticker":"VZ","cik":"0000732712","rowId":"","companyName":"VERIZON COMMUNICATIONS INC","candidate":{"label":"Euro FX","reason":"The SEC annual filing contains a business or financial-risk passage mentioning euro. Review the passage to confirm the market is relevant to your research.","reviewQuestion":"Is the euro relevant to revenue, costs, debt, or translation, and what portion is hedged?","filing":{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},"evidence":[{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2025, approximately $38.2 billion, or 23.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."},{"form":"10-K","filed":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","accession":"0000732712-26-000007","reportDate":"2025-12-31","text":"At December 31, 2024, approximately $30.5 billion, or 20.6%, of the aggregate principal amount of our total debt portfolio consisted of foreign denominated debt, primarily Euro and British Pound Sterling."}]}}],"reportDate":"2026-09-01","priorDate":"2026-08-25","title":"Euro FX: total open interest increased","description":"Net positioning increased by 186 contracts. 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