SEB — what changed in the latest 10-Q
A section-by-section comparison of SEB's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-05 vs the prior 10-Q · 2025-10-28
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +24 | −25 | ~4 | 3 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-05
As of April 4, 2026, Seaboard had cash and short-term investments of nearly $1.2 billion and additional net working capital of $1 billion. Of the total cash and short-term investments balance, $102 million was held by foreign subsidiaries.
Seaboard had long-term debt of $988 million as of April 4, 2026, which included a Term Loan due 2033 of $950 million. Current maturities of long-term debt were $11 million as of April 4, 2026. See Note 4 to the condensed consolidated financial statements for more discussion of Seaboard’s lines of cr…
Cash used in operating activities was $54 million for the first quarter of 2026, compared to $20 million for the same period in 2025. The change in operating activities cash flows was due to more cash used for working capital of $111 million, partially offset by an increase in net earnings, adjusted…
Cash used in investing activities was $87 million for the first quarter of 2026, compared to $55 million for the same period in 2025. During the three months ended April 4, 2026, Seaboard invested $96 million in property, plant and equipment, of which $44 million was in the Power segment, consisting…
Cash provided by financing activities was $74 million for the first quarter of 2026, compared to $62 million for the same period in 2025. Cash flows from financing activities primarily include draws and repayments under committed and uncommitted revolving facilities held with financial institutions …
Text removed vs the prior filing · source: 10-Q · 2025-10-28
As of September 27, 2025, Seaboard had total net working capital of $2.1 billion, which includes $1.2 billion of cash and short-term investments. Of the total cash and short-term investments balance, $158 million was held by foreign subsidiaries. Seaboard considers substantially all foreign profits …
Seaboard had long-term debt of $982 million as of September 27, 2025, which included a Term Loan due 2033 of $958 million. Current maturities of long-term debt were $14 million as of September 27, 2025.
Cash from operating activities was $380 million for the nine months ended September 27, 2025, compared to $219 million in the same period of 2024. The change in operating cash flows was due to an increase in earnings, adjusted for non-cash items, of $147 million and $77 million of proceeds from inve…
Cash used in investing activities was $401 million for the nine months ended September 27, 2025, compared to $321 million in the same period of 2024. During the nine months ended September 27, 2025, Seaboard invested $427 million in property, plant and equipment, an increase of $54 million from the …
the last of the original eight ordered vessels is expected to be delivered during the fourth quarter of 2025. In August 2025, Seaboard Marine entered into an agreement to build a ninth new vessel at approximately $75 million. The new dual-fueled vessels bring greater fuel efficiency, increased tonna…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice