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Learning to Invest / Reading Financial Statements

URL:  http://boards.fool.com/different-types-of-companies-have-different-size-30019431.aspx

Subject:  Re: form 10-q Date:  5/4/2012  11:24 AM
Author:  TMFSandman Number:  3882 of 3916

Different types of companies have different size financial reports. A small, simple company like Buffalo Wild Wings or even a large, simple company like Costco or Lowe's tend to have relatively brief financial reports.

Large oil and gas firms, large banks, and large complex conglomerates like GE have lengthier financials on average since there are many more moving parts: different subsidiaries, hedging information, etc.

Sometimes a business that you think would be simple, like Coke, actually has relatively complex financials. Coke has a number of worldwide segments, each with different growth rate stories and issues, the company does a lot of hedging, has both full and partial interests in various Coca Cola bottlers, and pension information. Each one of these things adds several pages in length to the base report.

For an extreme example, the AIG 10-K is about 400 pages long:
http://www.sec.gov/Archives/edgar/data/5272/0001047469120013...

In contrast, the Buffalo Wild Wings 10-K is only 64 pages long:
http://www.sec.gov/Archives/edgar/data/1062449/0001437749120...



Mike
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