Abstract
This paper provides an overview of purchase obligations disclosed in corporate annual filings. We discuss the details of the SEC rule that requires the disclosure of purchase obligations, describe the data collection and sample formation procedures, and show the examples of contractual obligations disclosure. Then, we present the types of purchase obligations reported by leading firms in each industry, summarize the amount of purchase obligations by industry and year, and present the portion of purchase obligations due by each period in the future. Finally, we document the strong persistence over time in the amount of a firm’s purchase obligations, and discuss the differences between purchase obligations and on-balance-sheet assets.
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