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Looking for Disclosures on War Risk

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Earnings releases and quarterly reports for Q1 2026 will start arriving in large numbers this week and next. One issue sure to be on the minds of financial analysts will be the war in Iran and how that fighting might affect corporate operations — so where should you look for disclosures that might help you understand a company’s exposure to that risk? Many businesses will offer some thoughts about the war in their earnings releases, calls with analysts, and quarterly reports; but those aren’t the only sources of information that exist. Today let’s do a quick review of other disclosures companies might make, and how you can find them on Calcbench. For example, one often-overlooked disclosure is a company’s list of subsidiaries. If a company you follow has extensive operations in the Middle East, that could mean those facilities are vulnerable to attack, which in turn might have substantial implications for a company’s operations, earnings, and assets on the balance sheet. You can find ...
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Levi’s Intriguing New Tariff Disclosure

Clothing maker Levi Strauss & Co. ($LEVI) filed its latest earnings report earlier this week with an intriguing new disclosure about tariff costs. Analysts might want to take a look here, since we may see more such disclosures from other companies as Q1 earnings releases start arriving later this month. Levi’s filed its earnings report (for the quarter ending March 1) on April 7, and overall the income statement numbers looked solid. Revenue up 14.1 percent from the year-ago period, operating income up 3.7 percent, net income up 30.2 percent thanks to a big boost on the always-popular “Other Income” line item. In short, the jeans looked fabulous.  Instead, our analytics eye drifted to Levi’s footnote disclosures, and we found this fascinating nugget in Levi’s Commitments and Contingencies footnote : On February 20, 2026, a U.S. Supreme Court ruling invalidated tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”). The Company estimates it has paid ap...
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Delta: Our First Glimpse at Fuel Cost Spikes

Fuel Cost Q1 2025 $2.47 per gal Fuel Cost Q4 2025 $2.28 per gal Fuel Cost Q1 2026 $2.78 per gal Buckle up, everybody! Earnings season takes flight today with Delta Air Lines, which filed its Q1 2026 earnings report this morning — and as always, Calcbench is collecting and collating the data so it’s ready for your analysis. We can start with the headline numbers. Delta ($DAL) reported Q1 revenue of $15.8 billion (up 12.9 percent from the year-ago period) and operating profit of $501 million (a decline of 11.9 percent). Delta also swung to a net loss of $289 million thanks to several special items. The most interesting items in today’s report, however, are the numbers Delta reported for fuel costs. Delta spent an average of $2.78 per gallon, up 12.5 percent from the $2.47 per gallon Delta reported one year ago. The c...
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Biggest Taxpayers by Country

Ireland has long been a haven of low corporate tax rates, to entice global corporations to locate their European (and even global) operations there.  Now, thanks to new tax disclosures that U.S. filers have started making this year , we’re able to see just how much companies are paying in taxes to the Emerald Isle. Table 1, below, ranks U.S. filers by how much they paid in taxes to Irish authorities in 2025. Company 2025 Taxes to Ireland Eli Lilly & Co. $6,600,000,000 Pfizer $1,016,000,000 Regeneron Pharmaceuticals $645,200,000 Johnson & Johnson $600,000,000 Meta Platforms $567,000,000 AbbVie $431,000,000 Verizon Communications $291,000,000 Bristol Myers Squibb $179,000,000 Stryker Corp. $175,000,000 Zoetis $12...
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Where Companies Send Their Taxes

Taxes Paid to Ireland $11.92B Taxes Paid to U.K. $10.04B Taxes Paid to China $6.22B Today we continue our series on new corporate tax disclosures by asking a simple question: Which foreign countries receive the most tax payments from U.S. filers?  As you might recall from our previous post , this year we’re starting to see a wave of new disclosures about corporate tax payments, courtesy of a new accounting standard that went into effect in 2025. U.S. filers must now report actual taxes paid to different jurisdictions around the world, so long as those individual amounts are at least 5 percent of total taxes the company pays that fiscal year.  Calcbench tracks all this data (of course), which means that financial analysts can gain new insight into where the companies that you follow tend to pay the most taxe...
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New Data Alert: Taxes Paid

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Calcbench is always striving to provide more data to our subscribers, so you can put that data to good use driving better financial analysis. To that end, today we kick off a short series of posts on new tax payment disclosures that companies are now making: what that data is, what it tells you about corporate financial performance, and how you can find it in Calcbench.  This is the same dataset Calcbench provided to The Wall Street Journal for its March 20 story about corporate cash taxes paid. Our tale begins in 2023, when accounting rule-makers adopted a new standard formally known as ASU 2023-09, Improvements to Income Tax Disclosures . The standard requires companies to report the actual taxes they pay to different jurisdictions around the world, so long as those individual amounts are at least 5 percent of total taxes the company pays that fiscal year.  For most companies, ASU 2023-09 went into effect with their 2025 fiscal years, which means we’re seeing these new...
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