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What is XBRL?

The machine-readable standard that makes SEC financial data queryable, and why it matters for investors.

XBRL, short for eXtensible Business Reporting Language, is the machine-readable format the SEC requires public companies to use when they file financial statements. Alongside the human-readable 10-K or 10-Q document, the company submits the same numbers tagged with standardized codes, so a computer can read them as reliably as a person reads the printed table.

The tags come from a shared dictionary called the US-GAAP taxonomy. When a company reports net income, it tags that figure with the concept us-gaap:NetIncomeLoss; revenue is tagged us-gaap:Revenues or a related concept; total assets is us-gaap:Assets. Because every filer uses the same dictionary, the same line item can be pulled and compared across thousands of companies without a human reading each filing.

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