# Content Extraction API - Introduction, Endpoint, Authentication

> Extract content sections from 10-K, 10-Q and 8-K filings using the Extractor API. Extracted sections are normalized and returned as HTML or cleaned text. All filing item headings are supported, such as Item 1A Risk Factors.

Source: https://sec-api.io/docs/sec-filings-item-extraction-api

The Extractor API extracts any text section from 10-Q, 10-K and 8-K SEC filings, and returns the extracted content in cleaned and standardized text or HTML format. Send the URL of the filing, the section name (e.g. Item 1A) and the return data type (e.g. raw text) to the Extractor API and the extracted content is returned.

You can programmatically extract one or multiple text sections from any 10-Q, 10-K and 8-K filing. The extracted section item is returned as clear-text without HTML tags or standardized HTML. There is no need to develop your own item extraction algorithm anymore. Amended filings, such as 10-Q/A, 10-K/A and 8-K/A as well as all 10-K form variants, such as 10-KT, 10KSB, are also supported.

Dataset size:

All sections of all 10-K, 10-Q and 8-K filings including their variants filed since 1994 to present.

Data update frequency:

Extracted sections from new filings are available within 300 milliseconds after their publication on EDGAR.

Survivorship bias free:

Yes. The Extractor API provides sections of all 10-K, 10-Q and 8-K filings filed since 1994 to present, from filer entities that are still active and those that are no longer active.

## Supported 10-K Section Items

The Extractor API supports extracting all section items from Form 10-K filings as listed below:

| Item | API Item ID | Section |
| --- | --- | --- |
| Item 1 | `1` | Business |
| Item 1.A | `1A` | Risk Factors |
| Item 1.B | `1B` | Unresolved Staff Comments |
| Item 1.C | `1C` | Cybersecurity (Regulation S-K Item 106, adopted July 2023, required for fiscal years ending on or after December 15, 2023) |
| Item 2 | `2` | Properties |
| Item 3 | `3` | Legal Proceedings |
| Item 4 | `4` | Mine Safety Disclosures |
| Item 5 | `5` | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities |
| Item 6 | `6` | Selected Financial Data (prior to February 2021) |
| Item 7 | `7` | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
| Item 7.A | `7A` | Quantitative and Qualitative Disclosures about Market Risk |
| Item 8 | `8` | Financial Statements and Supplementary Data |
| Item 9 | `9` | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure |
| Item 9.A | `9A` | Controls and Procedures |
| Item 9.B | `9B` | Other Information |
| Item 10 | `10` | Directors, Executive Officers and Corporate Governance |
| Item 11 | `11` | Executive Compensation |
| Item 12 | `12` | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters |
| Item 13 | `13` | Certain Relationships and Related Transactions, and Director Independence |
| Item 14 | `14` | Principal Accountant Fees and Services |
| Item 15 | `15` | Exhibits and Financial Statement Schedules |

The item extractor supports all 10-K form types including old fashioned TXT versions filed prior to 2003. Supported types include:
10-K/A, 10-KT/A, 10KSB, 10KSB/A, 10KT405, 10KT405/A, 10KSB40, 10KSB40/A, 10-K405, 10-K405/A, 10KSB, 10KSB

## Supported 10-Q Section Items

The Extractor API supports extracting all section items from Form 10-Q filings as listed below:

| Item | API Item ID | Section |
| --- | --- | --- |
| Part 1, Item 1 | `part1item1` | Financial Statements |
| Part 1, Item 2 | `part1item2` | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
| Part 1, Item 3 | `part1item3` | Quantitative and Qualitative Disclosures About Market Risk |
| Part 1, Item 4 | `part1item4` | Controls and Procedures |
| Part 2, Item 1 | `part2item1` | Legal Proceedings |
| Part 2, Item 1.A | `part2item1a` | Risk Factors |
| Part 2, Item 2 | `part2item2` | Unregistered Sales of Equity Securities and Use of Proceeds |
| Part 2, Item 3 | `part2item3` | Defaults Upon Senior Securities |
| Part 2, Item 4 | `part2item4` | Mine Safety Disclosures |
| Part 2, Item 5 | `part2item5` | Other Information |
| Part 2, Item 6 | `part2item6` | Exhibits |

## Supported 8-K Section Items

The Extractor API supports extracting all section items for each triggering event from Form 8-K filings as listed below:

| Item | API Item ID | Section |
| --- | --- | --- |
| Item 1.01 | `item1-1` | Entry into a Material Definitive Agreement |
| Item 1.02 | `item1-2` | Termination of a Material Definitive Agreement |
| Item 1.03 | `item1-3` | Bankruptcy or Receivership |
| Item 1.04 | `item1-4` | Mine Safety - Reporting of Shutdowns and Patterns of Violations |
| Item 1.05 | `item1-5` | Material Cybersecurity Incidents (introduced in 2023) |
| Item 2.01 | `item2-1` | Completion of Acquisition or Disposition of Assets |
| Item 2.02 | `item2-2` | Results of Operations and Financial Condition |
| Item 2.03 | `item2-3` | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
| Item 2.04 | `item2-4` | Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement |
| Item 2.05 | `item2-5` | Cost Associated with Exit or Disposal Activities |
| Item 2.06 | `item2-6` | Material Impairments |
| Item 3.01 | `item3-1` | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing |
| Item 3.02 | `item3-2` | Unregistered Sales of Equity Securities |
| Item 3.03 | `item3-3` | Material Modifications to Rights of Security Holders |
| Item 4.01 | `item4-1` | Changes in Registrant’s Certifying Accountant |
| Item 4.02 | `item4-2` | Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review |
| Item 5.01 | `item5-1` | Changes in Control of Registrant |
| Item 5.02 | `item5-2` | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers |
| Item 5.03 | `item5-3` | Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year |
| Item 5.04 | `item5-4` | Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans |
| Item 5.05 | `item5-5` | Amendments to the Registrant’s Code of Ethics, or Waiver of a Provision of the Code of Ethics |
| Item 5.06 | `item5-6` | Change in Shell Company Status |
| Item 5.07 | `item5-7` | Submission of Matters to a Vote of Security Holders |
| Item 5.08 | `item5-8` | Shareholder Nominations Pursuant to Exchange Act Rule 14a-11 |
| Item 6.01 | `item6-1` | ABS Informational and Computational Material |
| Item 6.02 | `item6-2` | Change of Servicer or Trustee |
| Item 6.03 | `item6-3` | Change in Credit Enhancement or Other External Support |
| Item 6.04 | `item6-4` | Failure to Make a Required Distribution |
| Item 6.05 | `item6-5` | Securities Act Updating Disclosure |
| Item 6.06 | `item6-6` | Static Pool |
| Item 6.10 | `item6-10` | Alternative Filings of Asset-Backed Issuers |
| Item 7.01 | `item7-1` | Regulation FD Disclosure |
| Item 8.01 | `item8-1` | Other Events |
| Item 9.01 | `item9-1` | Financial Statements and Exhibits |
| Signature | `signature` | Signature block at the end of the filing |

In very rare cases (~1 in 1,000 filings) a filing contains multiple sections merged into one section. Those cases are not covered by the extractor API.

## API Endpoint

Extracted sections from 10-K, 10-Q and 8-K filings are obtained by sending a HTTP `GET` request with the URL of the filing, the item ID of the section and the return data type (HTML or text) to the following endpoint:

https://api.sec-api.io/extractor

Supported HTTP method: `GET`

Response content type: `text` or `HTML`. The type depends on the return `type` parameter in the request. For example, set `type=text` to return the extracted section as plain text. Set `type=html` to return the extracted section as HTML.

### Authentication

To authenticate API requests, use the API key displayed in your [user profile](https://sec-api.io/signup). Utilize the API key in one of two ways. Choose the method that best fits your use case:

- **Authorization Header:** Set the API key as an `Authorization` header. For instance, before sending a `GET` request to `https://api.sec-api.io/extractor`, ensure the header is set as follows: `Authorization: YOUR_API_KEY`. Do not include any prefix like `Bearer`.
- **Query Parameter:** Alternatively, append your API key directly to the URL as a query parameter. For example, when making `GET` requests, use the URL `https://api.sec-api.io/extractor?url=FILING_URL&item=1A&type=text&token=YOUR_API_KEY` instead of the base endpoint. This is the only option when a header cannot be set, such as opening the URL directly in a browser.

## Request Parameters

- `url` (required) - URL of the 10-K, 10-Q or 8-K filing. For example, the URL of Tesla's 10-K filing for the fiscal year ended December 31, 2020 is https://www.sec.gov/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm
  The URL can represent the `.txt` or `.htm` version of the filing.
- `item` (required) - The item to be extracted, e.g. `1A`. One item per API call is supported.
  10-K supported item codes: `1, 1A, 1B, 1C, 2, 3, 4, 5, 6, 7, 7A, 8, 9, 9A, 9B, 10, 11, 12, 13, 14, 15`
  10-Q supported item codes: `part1item1, part1item2, part1item3, part1item4, part2item1, part2item1a, part2item2, part2item3, part2item4, part2item5, part2item6`
  8-K supported item codes: `1-1, 1-2, 1-3, 1-4, 1-5, 2-1, 2-2, 2-3, 2-4, 2-5, 2-6, 3-1, 3-2, 3-3, 4-1, 4-2, 5-1, 5-2, 5-3, 5-4, 5-5, 5-6, 5-7, 5-8, 6-1, 6-2, 6-3, 6-4, 6-5, 6-6, 6-10, 7-1, 8-1, 9-1, signature`
- `type` (optional) - The return type of the item can be `text` or `html`. `text` returns clear, formatted text without any XBRL, XML or HTML tags. For `text`, HTML character entities such as ` ` are not removed and the start and end of tables are marked with `##TABLE_START` and `##TABLE_END` respectively. The `text` return type is commonly used for NLP tasks. `html` returns the orignal, cleaned HTML version of the item including tables. Default: `text`
- `token` (required) - Your API key.

**Important:** If you send a 10-Q filing URL to the Extractor API while providing an item code not supported by 10-Q filings, you will encounter a request error. For example, the 10-K item code `1A` (risk factor section) is not included in 10-Q filings. Therefore, item `1A` cannot be extracted from 10-Q filings. The correct 10-Q item code is `part2item1a`.

### Request Examples

Get item 1A (Risk Factors) in clear text from Tesla's recent 10-K filing:

```bash
https://api.sec-api.io/extractor?url=https://www.sec.gov/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm&item=1A&type=text&token=YOUR_API_KEY
```

Get item 8 (Financial Statements and Supplementary Data) as HTML from Apple's recent 10-K filing:

```bash
https://api.sec-api.io/extractor?url=https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm&item=8&type=html&token=YOUR_API_KEY
```

Get item 1A in part 2 (Risk Factors) as HTML from Microsoft's recent 10-Q filing:

```bash
https://api.sec-api.io/extractor?url=https://www.sec.gov/Archives/edgar/data/789019/000156459022015675/msft-10q_20220331.htm&item=part2item1a&type=html&token=YOUR_API_KEY
```

## Response Format

The Extractor API returns the extracted item section in clear text or HTML format. The following are examples of the extracted Item 1A (Risk Factors) section from a 10-K filing in clear text and HTML format.

#### Text Example of Item 1A:

Text

```
You should carefully consider the risks described below together with the other information set forth in this report, which could materially affect our business, financial condition and future results. The risks described below are not the only risks facing our company. Risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and operating results.

Risks Related to Our Ability to Grow Our Business

We may be impacted by macroeconomic conditions resulting from the global COVID-19 pandemic.

Since the first quarter of 2020, there has been a worldwide impact from the COVID-19 pandemic. Government regulations and shifting social behaviors have limited or closed non-essential transportation, government functions, business activities and person-to-person interactions. In some cases, the relaxation of such trends has recently been followed by actual or contemplated returns to stringent restrictions on gatherings or commerce, including in parts of the U.S. and a number of areas in Europe.

We temporarily suspended operations at each of our manufacturing facilities worldwide for a part of the first half of 2020. Some of our suppliers and partners also experienced temporary suspensions ...

... (truncated)
```

#### HTML Example of Item 1A:

HTML

```html
<p>RISK FACTORS</p>
<p>
  You should carefully consider the risks described below together with the
  other information set forth in this report, which could materially affect our
  business, financial condition and future results. The risks described below
  are not the only risks facing our company. Risks and uncertainties not
  currently known to us or that we currently deem to be immaterial also may
  materially adversely affect our business, financial condition and operating
  results.
</p>
<p>Risks Related to Our Ability to Grow Our Business</p>
<p>
  We may be impacted by macroeconomic conditions resulting from the global
  COVID-19 pandemic.
</p>
<p>
  Since the first quarter of 2020, there has been a worldwide impact from the
  COVID-19 pandemic. Government regulations and shifting social behaviors have
  limited or closed non-essential transportation, government functions, business
  activities and person-to-person interactions.
  <span>In some cases, the relaxation of such trends has recently been followed by
    actual or contemplated returns to stringent restrictions on gatherings or
    commerce, including in parts of the U.S. and a number of areas in
    Europe.</span
  >
</p>
<p>
  We temporarily suspended operations at each of our manufacturing facilities
  worldwide for a part of the first half of 2020. Some of our suppliers and
  partners also experienced temporary suspensions ...
</p>

... (truncated)
```

## Frequently Asked Questions

### API Processing Response

The "processing" response status occurs when:

1. A recent filing has been submitted and our system is extracting the sections. This usually resolves quickly as the system finishes its processing. Waiting for 500 to 1000 milliseconds before retrying usually results in successfully obtaining the extracted section.
2. You've requested a section from a filing that may not exist, often in 8-K filings which don't always include all sections. Our system will try to extract the section, causing the "processing" status. For 8-Ks, verify section existence using our Query API, which provides a metadata object with an `items` property listing the sections contained in the filing.

Should the "processing" response persist after three retries, each delayed by 500 to 1000 milliseconds, it is likely that the section is non-extractable, possibly due to its absence or other reasons detailed below.

### Empty Sections and Unparseble Filings

Filings prior to the Sarbanes-Oxley Act (SOX) in 2002, such as 10-K and 10-Q reports, may not have a well standardized structure, which can affect the extractability of sections, particularly for older documents. To collate and download sections from 10-K, 10-Q and 8-K filings, use our [Query API](https://sec-api.io/docs/query-api) to compile a list of metadata objects for all such form types. This includes the accession numbers, filing URLs, publication dates, CIKs, ticker symbols, and referenced entities.

Before building this dataset, understanding the difference between filing ID, accession number, CIK and their interrelationships is crucial:

- The `id` property from the Query API uniquely identifies a metadata object in our database.
- The `accessionNo` property uniquely identifies a filing within the EDGAR database.
- The `cik` property uniquly identifies a filer within the EDGAR database.

When collecting filing metadata, it's possible to encounter multiple metadata objects linked to the same filing. Each object will have a unique `id` but share the same `accessionNo`. The differences between these objects are found in the `id`, `cik`,`ticker`, and `companyName` properties. This occurs because the EDGAR index includes a record for each entity referenced in a filing. For example, [Entergy's 10-Q filing](https://www.sec.gov/Archives/edgar/data/7323/000006598423000073/0000065984-23-000073-index.html) references seven entities, resulting in seven metadata objects and filing URLs. However, all these point to one filing identified by a single accession number. For accurate dataset compilation, it's essential to remove duplicates based on the `accessionNo`, ensuring each accession number is unique within your dataset, rather than relying on the `id`.

Figure: [Intel's 10-K filing](https://www.sec.gov/Archives/edgar/data/50863/000005086323000006/intc-20221231.htm) referencing one entity

Figure: [Entergy's 10-Q filing](https://www.sec.gov/Archives/edgar/data/7323/000006598423000073/0000065984-23-000073-index.html) referencing seven entities

Before extracting sections with your metadata dataset, it's important to refine it to exclude filings of entities that do not provide standard filing sections. Trusts and REITs, for instance, file 10-Ks and 10-Qs but may lack sections like Management Discussion and Analysis (MD&A). Use our [Mapping API](https://sec-api.io/docs/mapping-api) to correlate the CIKs with SIC codes (`sic`) and security types (`category`) and exclude irrelevant entities. Common exclusions are:

- Security type (`category`) that fall into ETD, ETF, UNIT, CEF categories.
- SIC code (`sic`) corresponding to 6189 (asset-backed securities) and 6798 (Real Estate Investment Trusts).

Our Extractor API may not cover some sections of 10-K, 10-Q and 8-K filings, particularly those from trusts with non-standard structures or empty sections. Here are examples of such filings:

- STRATS Trust's 10-K has an empty MD&A section. [View Filing](https://www.sec.gov/Archives/edgar/data/1286405/000138713123004150/strats20046_10k-123122.htm)
- CorTS Trust's 10-K also lacks an MD&A section. [View Filing](https://www.sec.gov/Archives/edgar/data/1283464/000106823823000064/cortspecoiii_10k.htm)
- Sabine Royalty Trust's 10-K includes a section titled "Trustee's Discussion and Analysis". [View Filing](https://www.sec.gov/Archives/edgar/data/710752/000119312523054030/d436171d10k.htm)
- North European Oil Royalty Trust's 10-Q does not follow a standardized filing structure and omits the MD&A section. [View Filing](https://www.sec.gov/Archives/edgar/data/72633/000007263323000004/tenq1q23.htm)

Non-standard filings that don't follow the SEC's proposed filing structure can also impede extraction. For instance:

- Citigroup's 10-K has a scattered Item 7 MD&A, making it difficult to parse as it is distributed across various parts of the document. [View Filing](https://www.sec.gov/Archives/edgar/data/831001/000083100123000037/c-20221231.htm)
- GE's 10-K presents an overlapping structure where Item 1 spans multiple, non-sequential pages and intersects with other items, complicating extraction. [View Filing](https://www.sec.gov/Archives/edgar/data/40545/000004054523000023/ge-20221231.htm)
- Intel's 10-K, similar to GE's filing, spreads the business section in Item 1 across various non-sequential pages, making the reliable extraction of Item 1 unfeasible. [View Filing](https://www.sec.gov/Archives/edgar/data/50863/000005086323000006/intc-20221231.htm)

For tasks like backtesting trading strategies that rely on data from extracted filing sections, it's recommended to focus on filings post-2004. This recommendation is due to the significant changes in the SEC's filing requirements, disclosure activity, and the number of active entities on EDGAR after the SOX regulations took effect. The adoption of Form 8-K and Form 4 filings became more prevalent after this period. This shift is highlighted by two figures:

Figure: Annual number of active EDGAR entities and volume of filings from 1994 to 2022.

Figure: Annual number of filings for top 20 most commonly filed forms from 1994 to 2022.

## References

For more information about Form 10-K, 10-Q and 8-K filings visit the SEC websites here:

- [Form 10-K General Instructions](https://www.sec.gov/files/form10-k.pdf)
- [Form 10-Q General Instructions](https://www.sec.gov/files/form10-q.pdf)
- [Form 8-K General Instructions](https://www.sec.gov/files/form8-k.pdf)

### Regulations

- [§ 240.13a-11 Current reports on Form 8-K (§ 249.308 of this chapter).](https://www.ecfr.gov/current/title-17/chapter-II/part-240/subject-group-ECFR03b318d46549873/section-240.13a-11)
- [§ 240.15d-1 Requirement of annual reports](https://www.ecfr.gov/current/title-17/chapter-II/part-240/subject-group-ECFRaadc91828f48746)
- [§ 240.15d-13 Quarterly reports on Form 10-Q](https://www.ecfr.gov/current/title-17/chapter-II/part-240/subject-group-ECFR4d9bc7b8399a111/section-240.15d-13)
- [§ 249.308 Form 8-K, for current reports](https://www.ecfr.gov/current/title-17/chapter-II/part-249/subpart-D/section-249.308)
- [§ 249.310 Form 10-K, for annual and transition reports pursuant to sections 13 or 15(d) of the Securities Exchange Act of 1934.](https://www.ecfr.gov/current/title-17/chapter-II/part-249/subpart-D/section-249.310)
- [§ 249.308a Form 10-Q, for quarterly and transition reports under sections 13 or 15(d) of the Securities Exchange Act of 1934.](https://www.ecfr.gov/current/title-17/chapter-II/part-249/subpart-D/section-249.308a)

### Research Papers

- [Lazy Prices](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1658471)
- [The Incremental Information Content of Tone Change in Management Discussion and Analysis](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1126962)
- [Financial Reporting Complexity and Investor Underreaction to 10-K Information](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=985365)
- [The 8-K Trading Gap](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2657877)
- [What are You Saying? Using Topic to Detect Financial Misreporting](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2803733)
- [Using 10-K Text to Gauge Financial Constraints](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2331544)
- [Guiding through the Fog: Does annual report readability reveal earnings management?](https://www.sciencedirect.com/science/article/abs/pii/S0275531916301611)
- [Plain English, Readability, and 10-K Filings](https://www.researchgate.net/publication/228458241_Plain_English_Readability_and_10-K_Filings)
- [FinBERT - A Large Language Model for Extracting Information from Financial Text](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3910214)