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This document is the annual report for J.B. Hunt Transport Services, Inc. detailing financial performance, business operations, and management discussions for the fiscal year ended December 31, 2021,

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How to fill out form 10-k

1. Gather financial information for the fiscal year.
2. Prepare the company's balance sheet, income statement, and cash flow statement.
3. Complete the management discussion and analysis (MD&A) section.
4. Include information about the company's business model and market.
5. Disclose legal proceedings and risk factors.
6. Provide details on executive compensation and governance practices.
7. Compile auditor's report and financial statements.
8. Review the form for accuracy and completeness before submission to the SEC.

Who needs form 10-k?

1. Publicly traded companies in the U.S.
2. Investors seeking company financial information.
3. Regulatory agencies like the SEC for compliance.
4. Analysts evaluating company performance.
5. Stakeholders and creditors for informed decision-making.

Understanding Form 10-K: The Comprehensive Guide

What is Form 10-K?

Form 10-K is a comprehensive report filed annually by public companies with the U.S. Securities and Exchange Commission (SEC). Its primary purpose is to provide a detailed overview of a company’s financial performance, operations, risks, and management discussions, offering stakeholders critical insights into the company’s health. Unlike other disclosures, the 10-K is a more robust document that provides a complete picture of a company's financial status and future prospects.

The importance of Form 10-K cannot be overstated. It serves as a vital tool for investors, analysts, and regulators by ensuring transparency in companies' financial reporting. Public companies are required to file this form annually, reinforcing corporate accountability. The information presented in a 10-K enables stakeholders to make informed decisions regarding their investments, contributing to market efficiency.

Required content for Form 10-K typically includes a summary of financial data, risk factors, legal proceedings, and management discussion and analysis. Each section captures significant details that are essential for understanding the company’s strategic direction and potential concerns.

Components of Form 10-K

The Form 10-K is divided into four main parts, each containing essential components that collectively represent a company’s operational and financial narrative. Understanding these sections can help you analyze the complete spectrum of a company's performance and outlook.

• This section offers an overview of the business, discusses risk factors, notes any unresolved staff comments, and includes details about the company’s cybersecurity measures.
• In this part, companies disclose information about their properties, any ongoing legal proceedings, mine safety disclosures (if applicable), and provide market information relevant to their shares.
• This section features the Management Discussion and Analysis (MD&A), executive compensation details, and security ownership of certain beneficial owners and management.
• The final part contains the financial statements, any changes and disagreements with accountants, and the controls and procedures in place for financial reporting.

Filing deadlines for Form 10-K

Every public company must file its Form 10-K within 60 to 90 days after the end of its fiscal year, with specific deadlines depending on the company's public float. For example, large accelerated filers have 60 days, while non-accelerated filers have 90 days to submit their documentation. Companies that fail to meet these deadlines risk penalties and may find their access to capital markets restricted.

Extensions may be granted, allowing up to 15 additional days for filing through a Form 12b-25 application. However, reliance on extensions should be avoided, as repeated late filings can trigger SEC scrutiny and damage investor confidence in the company's governance.

Penalties for non-compliance with Form 10-K filing requirements can be severe, including fines, legal actions, and adverse effects on stock prices. Regulators also monitor for accuracy in the disclosures to ensure that stakeholders receive precise and complete information.

How to complete and submit Form 10-K

Preparing and submitting Form 10-K requires meticulous attention to detail as it is a public document that reflects the company's operations and financial integrity. A comprehensive strategy includes gathering financial data, assessing risks, and getting inputs from various departments, particularly finance, legal, and compliance.

Several tools can enhance the document creation process. For instance, pdfFiller offers powerful solutions for editing PDFs, allowing users to easily insert financial tables, charts, and relevant data into the 10-K form. The platform also provides eSigning capabilities, ensuring that necessary signatories can complete the process without the hassle of physical paperwork.

Interactive template features play a significant role in easing the workload. Companies can opt for pre-built templates that guide them through each section of the form, ensuring that no critical detail is overlooked. The submission process typically involves electronically filing the report through the SEC’s EDGAR system, ensuring compliance and facilitating timely access for investors.

Understanding the five percent ownership threshold

The five percent ownership threshold plays a crucial role in shareholder reporting obligations outlined in Form 10-K. If an individual or entity holds five percent or more of a company's shares, they are required to disclose this ownership through Schedule 13D or 13G, depending on the purpose of the acquisition.

Accurate reporting of ownership is critical, as failure to disclose can lead to significant penalties. It's essential for both management and investors to be aware of ownership structures, as this can influence the company's governance and strategy.

Tips for analyzing a Form 10-K

Analyzing the Form 10-K requires a strategic approach to identify crucial information that can inform investment decisions. Stakeholders should focus on key highlights such as revenue growth, net income, and cash flow figures, as these metrics provide insights into the company's operational efficiency.

• Identify the primary risks outlined by the management, which could impact the company’s financial health.
• Review MD&A for insights into management's perspectives on the company's performance and strategies moving forward.
• Examine the compensation packages for executives to assess alignment with shareholder interests.
• Analyze ratios such as debt-to-equity, return on equity (ROE), and profit margins to gauge stability and performance.

Overall, a thorough analysis of a Form 10-K can reveal patterns and trends that are pivotal for shareholders and stakeholders when evaluating potential investment opportunities.

Navigating related forms

In addition to Form 10-K, public companies must also be familiar with other related forms such as Form 10-Q and Form 8-K. These documents serve different purposes but contribute to a company’s ongoing transparency.

• This is a quarterly report required to provide ongoing updates to shareholders about the company's financial performance and condition.
• This form is filed to report unscheduled events or corporate changes that are of significance, such as major acquisitions or changes in executive leadership.

While all these forms contain financial data, the Form 10-K is more comprehensive, offering a laser-focused view of the entire fiscal year. Understanding the distinctions between these forms can help stakeholders maintain an accurate perspective on corporate affairs.

Finding and accessing Form 10-K reports

Accessing Form 10-K reports is straightforward, thanks to robust online resources. The SEC’s EDGAR database is an invaluable tool, allowing users to search for company filings efficiently. By inputting the company name or ticker symbol, stakeholders can access the latest and historical reports with ease.

In addition to the SEC database, many companies maintain an investors' relations section on their corporate websites where 10-K filings are available. This direct access ensures that all institutional and individual investors can stay informed about the financial health and strategic developments of the companies they have an interest in.

Frequently asked questions about Form 10-K

Understanding Form 10-K can raise several inquiries about its purpose and impact. Here are some commonly asked questions along with their answers:

• It provides a detailed annual overview of a company’s financial performance and ongoing risk factors, serving as a key source of information for investors.
• All public companies in the United States are required to file Form 10-K with the SEC.
• Companies could face penalties, including fines and restrictions on accessing capital markets.

Additional considerations for filing

Ensuring accuracy and compliance in Form 10-K filings is paramount. Companies should conduct thorough internal reviews and potentially seek external audit opinions where necessary to validate the integrity of the data.

Transparency and clarity in reporting enhance the credibility of the information presented in Form 10-K. This approach not only builds trust with investors but also mitigates the chances of misinterpretations and legal issues down the line.

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What is form 10-k?

Form 10-K is an annual report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive overview of a company's business and financial condition.

Who is required to file form 10-k?

Publicly traded companies in the United States that are registered with the SEC are required to file Form 10-K.

How to fill out form 10-k?

To fill out Form 10-K, companies must gather financial statements, business summaries, risk factors, and other required disclosures, and complete the form according to SEC guidelines, typically using the EDGAR online system.

What is the purpose of form 10-k?

The purpose of Form 10-K is to provide investors and the SEC with a detailed yearly summary of a company's performance, risks, and future prospects.

What information must be reported on form 10-k?

Form 10-K must include information such as financial statements, management's discussion and analysis of financial condition, disclosures about corporate governance, risk factors, and management's outlook on future performance.