Thursday, March 21, 2019
Tech Data’s Goodwill Adjustment

Tuesday, March 19, 2019
There’s Taxes, and There’s Taxes

Saturday, March 16, 2019
Adventures in Tax Cuts and Net Income

Monday, March 11, 2019
Big Moves in Goodwill, Intangible Value

Friday, March 8, 2019
CVS, Goodwill, and Enterprise Value

Thursday, February 28, 2019
Summary of Our Goodwill Research/ How-To

Wednesday, February 27, 2019
What Does ‘Other’ Mean? An Example

Thursday, February 21, 2019
Another Tale, Buried in the Footnotes

Wednesday, February 13, 2019
Low Latency Calcbench

Monday, February 11, 2019
Now Streaming on Hulu: Red Ink

Thursday, February 7, 2019
Early Look at 2018 Tax Decline

Wednesday, February 6, 2019
You Revised WHAT, Netflix?

Thursday, January 31, 2019
Talking About Huawei Exposure

Wednesday, January 30, 2019
Another Discrepancy in Reported Numbers

Wednesday, January 30, 2019
Finding Revised Facts: Hertz Edition

Wednesday, January 23, 2019
GE Commercial Aviation Services: Bringing Numbers to Light

Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

Wednesday, January 2, 2019
Quants: Point-in-Time Data for Backtesting

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The commitments and contingencies note frequently includes interesting information about what agreements companies have already entered that would commit them for future payments. A common example is leases, were companies lease equipment or buildings. What is particularly interesting, is to examine changes to those commitments. Calcbench offers an easy way to do that. You can go to the disclosures page, choose a disclosure you are interested in and click on Compare To Previous Period. For example, comparing 3M’s (MMM) leases as disclosed in 2017 to what was disclosed in 2016, we can see the rentals went from $318M in 2016 to $343M in 2017. You can also see potential changes by examining what was added or deleted from the document.

Another interesting example is with litigation. Companies disclose litigation they are involved in within this note. When comparing Merck’s (MRK) 2017 disclosure to the 2016 one, we can see that the litigation around a product liability lawsuit for Vioxx was resolved since it was taken out from the note.

There is a wealth of information in these changes in disclosures just waiting to be discovered.

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